First Solar Sells Japan Project Development Platform to PAG Real Assets
First Solar has finalised the previously announced sale of a 293-megawatt (MW)DC utility-scale solar project development platform in Japan to PAG Real Assets-managed funds.
The majority of First Solar project development employees in Japan have joined PAG as part of the deal.
PAG is a leading Asia-Pacific-focused private investment manager, managing more than $50 billion in assets.
First Solar had earlier announced that it had entered into a definitive agreement under which PAG would buy First Solar's solar operations and maintenance (O&M) platform in Japan, which currently manages roughly 665 MWDC.
This transaction is scheduled to close in the second half of 2022, subject to regulatory approval, third-party consent, and other customary closing conditions.
Source: Globe Newswire