Latham Advises Meralco on Strategic Partnership With Actis

Latham & Watkins has advised Manila Electric Company (Meralco) and its subsidiary, Solar Philippines New Energy Corporation, on its strategic partnership with Actis, a leading global investor in sustainable infrastructure, on its 40% stake in the Terra Solar Project. The transaction represents the largest foreign direct investment for a greenfield infrastructure project in the Philippines.

The Terra Solar Project is a US$3.5 billion project and poised to be the world’s largest integrated renewables and energy storage project. The project will provide electricity to c. 2.4 million Philippine households.

The Latham team was led by Singapore corporate partner Sidharth Bhasin and Hong Kong corporate partner Benjamin Carale, with Singapore counsel Carolyn Wong and associates Jonathan Wah and Jen Whee Lee.