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Kawa Solar sells Conergy Asia to Goldman Sachs, Tennenbaum Capital

Published 03 August 2017

Singapore-based Conergy Asia & ME has announced that its parent Kawa Solar Holdings has sold the downstream solar power company and its subsidiaries to US private equity funds Tennenbaum Capital Partners and Goldman Sachs BDC (GSBD).

Financial details of the acquisition were not revealed. Conergy specializes in the development, design, finance, build and long-term asset management of commercial, industrial and utility-scale solar power plants in Japan, Australia, Thailand, the Philippines, Myanmar and Germany.

Conergy has served as the EPC contractor and O&M service provider for approximately a half gigawatt of solar plants.

The company claims that since its inception it has installed almost two gigawatts of solar power capacity globally.

Conergy CEO Alexander Lenz said: “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.”

Conergy COO Marc Lohoff said: “I am confident that our supply and construction partners will share my enthusiasm for our new equity investors.

“Their 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.”

Tennenbaum Capital Partners managing partner Rajneesh Vig said: “This acquisition offers us and GSBD a unique opportunity to work closely with one of the industry’s most experienced solar firms and to participate in the Asia Pacific market – one of the most attractive solar markets in the world today.”


Image: Conergy has operations in Japan, Australia, Thailand, the Philippines, Myanmar and Germany. Photo: Courtesy of franky242/FreeDigitalPhotos.net.