San Carlos Solar Energy Inc. on Friday announced the completion its solar plant expansion to 45 megawatts in Negros Occidental last week.
SaCaSol said in a statement the completion made the plant the largest solar power farm in the country.
The company also announced recently that the Philippine Investment Alliance for Infrastructure fund, managed by Macquarie Infrastructure and Real Assets, completed the acquisition of a majority stake in SaCaSol.
PINAI’s investors include the Government Service Insurance System, Asian Development Bank, Langoer Investments Holdings B.V. and Macquarie.
Financing of SaCaSol’s solar farm was provided by previous shareholders ThomasLloyd CTI Asia and the Bank of the Philippine Islands.
SaCaSol was developed by Bronzeoak Philippines, which continues to be shareholder and operator of SaCaSol.
The solar farm is located in San Carlos City, Negros Occidental, an emerging green city quickly being known as the renewable energy center of the Visayas.