has disclosed it will be making a $600m (鈧�551m) investment for its stake in the Terra Solar Philippines (MTerra Solar) project.
The confirmation follows the infrastructure fund manager鈥檚 previously announced investment in the project, which it had described in September last year as the largest foreign direct investment for a greenfield infrastructure project in the Philippines.
At that time, no financial details were released. The project was then fully owned by MGEN Renewable Energy, through its subsidiary SP New Energy Corporation (SPNEC).
Rahul Agrawal, partner, head of energy for Southeast Asia at Actis, said: 鈥淢Terra Solar is a marker of what鈥檚 possible in terms of scale and ambition with renewable energy in Southeast Asia.
鈥淚t represents the largest such project in this fast-growing region, and we鈥檙e delighted to be partnering with MGEN and MGreen to deliver this critical project and accelerate the Philippines鈥� energy transition.鈥�
Lucy Heintz, partner, head of energy infrastructure at Actis, said: 鈥淎ctis specialises in building and operationalising energy assets both to accelerate the energy transition as we seek to deliver value for our investors.
鈥淲e are resolute in achieving these goals, and this project is expected to do just that and provides an excellent illustration of how we look to deliver a clean energy future at scale.鈥�
Emmanuel V Rubio, president and CEO of MGEN and SPNEC, said: 鈥淭his landmark investment marks a major step forward in our mission to accelerate the clean energy transition in the Philippines. With MTerra Solar, we are reinforcing our commitment to delivering reliable, sustainable, and cost-effective energy solutions.
鈥淭his collaboration with Actis and MGEN strengthens our ability to meet the country鈥檚 growing energy demand while advancing a greener and more resilient energy future.鈥�
To read the latest 91传媒在线 magazine click here.
