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GIC, Macquarie said to be eyeing $2.6b divestment of green energy firm
The Straits Times
|October 24, 2024
Singapore's GIC and Australia's Macquarie are looking at selling their stake of roughly 30 per cent in Philippine renewable energy firm Energy Development Corporation (EDC), a deal that could fetch US$2 billion (S$2.6 billion), two sources with knowledge of the matter said.
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They are in preliminary talks with advisers and no decision has been made, the sources said.
EDC is the Philippines' biggest renewable energy firm with installed capacity of some 1,480.19 megawatts, most of which is geothermal energy. It accounts for about a fifth of the country's total installed renewable energy capacity, according to its website.
This story is from the October 24, 2024 edition of The Straits Times.
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