Private equity firm CapAsia exits Philippines' wind power project

The deal won't exceed $28.5m.

DealstreetAsia reported that Singapore-based private equity firm CapAsia has signed a sale and purchase agreement to sell its entire interest in CapAsia ASEAN Wind Holdings Cooperatief UA, owning the majority stake in wind power projects in the Philippines, to Thailand’s listed renewable energy firm BCPG Pcl.

The deal’s value will not be exceeding $28.5 million, according to BCPG’s filing to the Stock Exchange of Thailand. BCPG’s president Bundit Sapianchai said that this investment is in line with its strategy to expand its renewable energy business in terms of technology and geography in order to increase corporate value and diversify risk.

View the full report here.