US-based First Solar has completed the previously announced sale of a 293MW DC utility-scale solar O&M platform in Japan, to funds managed by PAG Real Assets (PAG).
The platform has approximately 665MW DC of solar assets under management in the country.
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As part of the sale, the majority of First Solar O&M employees in Japan have joined PAG.
PAG is a Asia Pacific-focused private investment manager with more than US$50bn (€50.4bn) in assets under management.
This transaction is expected to close in the second half of 2022, after obtaining regulatory approvals, the receipt of third-party consents and satisfying other customary closing conditions.