Greenergy invests P100M in RE unit

By Jordeene B. Lagare – February 23, 2019
from The Manila Times

GREENERGY Holdings Inc. is investing up to P100 million in subsidiary Winsun Green Ventures Inc., which handles its green projects. In a disclosure on Friday, the listed holding company said its board of directors had approved the investment to finance Winsun’s projects involving solar power and liquefied natural gas. Winsun is one of the subsidiaries that the former semiconductor firm created in 2012 in venturing into renewable energy. Another is Biomass Holdings Inc., which it co-owns with ThomasLloyd Cleantech Infrastructure Fund GmbH. In 2011, Greenergy signed a $1.3-billion joint venture agreement with China’s Tianjin Tianbao Investment and Development Corp. on implementing RE projects. Shares of Greenergy added 1 centavo or 0.31 percent to end at P3.26 apiece on Friday.