PH Dealbook: Enfinity SA invests $42.7m in solar farm; Philippine HKR pours $10.6m in car part supply biz

Visual from the company website

In two separate business developments in the Philippines, Belgium-based power company Enfinity SA is investing up to $42.7 million (P2 billion) in a local solar project, while automaker supplier Philippine HKR is funding its new automobile machine parts production for $10.6 million (P500 million).

Enfinity SA invests $42.7m in PH solar facility

Enfinity has invested $42.7 million in a 28.6 megawatt solar farm, which is the first phase of a planned 43.6MW facility in Digos City, Davao Del Sur.

Located in a 34.8-hectare site, the project is targeted to be operational in next year’s summer season.

The Hanwha Group from South Korea will supply photovoltaic panels for the project. Enfinity has tapped India-based firm Sterling and Wilson as the international engineering, procurement and construction (EPC) contractor, while Mieacor will be its local contractor.

The Belgium company disclosed that about 20 per cent of the expense component have already been earmarked for the project. It is expected to bring significant power supply that can help solve the plug generation problem in the Mindanao region.

Philippine HKR approves $10.6m fund in car machine parts business

Automaker supplier Philippine HKR has invested P500 million in its production of precision machine parts for automotive vehicles exclusively for the Japanese car brand Toyota.

Philippine HKR will use the funds to expand its production of precision machine parts for automotive vehicles for Toyota Motor Philippines Corp in Sta. Rosa City in Laguna province.

Around 44 new jobs are expected to be produced in the new investments.

Also Read:

Aboitiz Power, SunEdison ink contract for $75.6m solar power project in PH

PH roundup: Mitsubishi, Toyota

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.