PATRIZIA enters Philippines with initial investment into one of the country’s leading solar energy companies and overall USD 100 million investment targeted
Summary
PATRIZIA and Mitsui via their joint venture fund management company, on behalf of A-SIF, have entered into binding agreements to acquire an interest in BEI the Philippines leading independent commercial and industrial (C&I) rooftop solar developer, owner and operator. Future rounds of GEAP are expected to further contribute to the countrys renewable power mix objectives.Rooftop solar is an example of the combination of real estate and infrastructure convergence and an clear example of RE-Infra PATRIZIAs combined asset class which is one of its five growth strategies identified as pivotal to the company reaching its EUR 100 billion assets under management (AUM) goal by 2030, as per its new mid-term strategy.Phoebe Smith, PATRIZIA Head of Fund Management RE-Infra, added: The gap between what is real estate and what is infrastructure is narrowing and investment opportunities that combine the two are continuing to open up. Mitsui is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries. The company identifies, develops, and grows its businesses in partnership with a global network of trusted partners including world leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders.With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 40 years. The PATRIZIA Foundation has given more than 700,000 children and young people worldwide access to education, healthcare, and a safe home to get the chance to live a better self-determined life over the last 25 years.