Armstrong cleantech fund makes debut investment in Thailand
Armstrong Asset Management has agreed to invest in a Thai solar energy project, marking the first deal from its Southeast Asia cleantech fund, which is expected to reach a final close of $150 million in August. The private equity firm will take a 60% interest in projects controlled by Symbior Solar Siam (SSS), a subsidiary of Hong Kong-based Symbior Energy.
The project portfolio comprises six small-scale solar developments in central and northeast Thailand with a combined capacity of 30 megawatts. Armstrong will inject capital into Symbior Elements, the entity...
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