Solar-energy company Conergy acquired
Singapore-based Conergy, a solar energy company that has built plants in Thailand and other southeast Asian countries has been acquired by fund groups managed by Tennenbaum Capital Partners, LLC and Goldman SachsBDC Inc.
Conergy, formerly owned by Kawa Solar Holdings, specializes in the development, design, finance, build and long-term asset management of commercial, industrial and utility-scale solar power systems. It has installed almost 2 gigawatts of capacity globally. The Company has operations in Japan, Australia, Thailand, the Philippines, Myanmar and Germany.
Conergy entered the Thai market in 2006 and has built more than 132 megawatt peak (MWp) of solar electricity capacity in key locations such as Ayutthaya, Lop Buri, Suphanburi and Kanchanaburi. Conergy has executed solar plants in partnership with leading Thai companies such as B Grimm, Symbior, CK Power, Siam Solar Energy 1, Yanhee Solar and Ratchaburi Electricity.
Alexander Lenz, chief executive officer of Conergy said, “This transaction brings tremendous value to our business, our employees and our customers. Over the past few years, Conergy has built leading positions in the Asia Pacific market, creating a formidable and highly competitive organization with excellent growth prospects. TCP’s and GSBD’s extensive experience and access to capital will strengthen Conergy’s financial position, enhance our capabilities, and allow us to pursue new business opportunities in the region and execute our plans for growth in Australia, the emerging markets of Southeast Asia and Japan.”
Marc Lohoff, chief operating officer of Conergy added that the new equity investment “reinforces our competitive position as a premier solar downstream player in the Asia Pacific market, and further strengthens Conergy’s long-term position as a leader in solar project development/finance, construction and operations.”
The acquisition transaction closed August 1.
