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Greenergy, Tianjin to Invest $1.3 Billion in Projects

(Corrects company name in title.)

Aug. 31 (Bloomberg) -- Greenergy Holdings Inc. said it will form a venture with China’s Tianjin Tianbao Investment and Development Corp. that will invest at least $1.3 billion in wind energy projects in the Philippines over a 10-year period.

The venture will invest up to $200 million within the first two years, Manila-based Greenergy said in a stock exchange filing today. Greenergy said its board approved the execution of the agreement with Tianjin Tianbao in a meeting today.

Link to Company News:{GREEN PM <Equity> CN <GO>}

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net

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