Actis signed a strategic partnership with Meralco and its subsidiary. (Photo: Actis)
To build the world’s largest solar power project, Terra Solar, the Philippines' largest distribution company, Manila Electric Company (Meralco), established a strategic partnership with Actis of the UK on Sept. 6.
This partnership has secured the largest foreign investment in the history of the Philippines' infrastructure, amounting to 34 billion pesos (about USD 602 million).
Actis secures 40% stake, backs project infrastructure and operations
Actis acquires a 40% stake in Terra Solar and will provide economic support for infrastructure contracting, construction, and operation. Previously, the project was wholly owned by Manila Electric’s subsidiary, Solar Philippines New Energy Corporation (SPNEC).
