Portfolio Manager Matt Christ shares details of one of Ninety One’s Alternative Credit platform’s private credit deals - financing to back Verdant Energy’s acquisition of a stake in the pioneering 16MW wind and 6MW/MWh storage power project of Philippines Hybrid Energy Systems Inc (PHESI).
Matt outlines what makes the deal compelling: PHESI supplies clean energy to Mindoro Island, which is currently not connected to the Philippines’ national grid and faces challenges related to power costs and supply stability. He explains why sponsor Verdant’s track record in renewable energy was central to the decision and how the project aligns with the Philippines’ ambitious targets to decarbonise its heavily fossil fuel dependent electricity sector.
This investment is a great example that brings to life the goals of our EM Alternative Credit platform specifically our transition dedicated strategy: deploying commercial capital to credible transition leaders in markets where it can also contribute to meaningful real world impact.
