{
  "id": 19318602,
  "title": "Macquarie and GIC explore $2bn sale of Philippine geothermal stake",
  "url": "https://urgent.news/2026/11/10/macquarie-and-gic-explore-2bn-sale-of-philippine-geothermal-stake",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-10T09:42:00.000Z",
  "source": {
    "name": "Private Equity Wire",
    "slug": "private-equity-wire",
    "url": "https://privateequitywire.com/news/macquarie-and-gic-explore-2bn-sale-of-philippine-geothermal-stake"
  },
  "original_language": "en",
  "account": "Macquarie Asset Management and Singapore's GIC are considering selling their joint investment in Philippine geothermal firm Energy Development Corporation (EDC), potentially for around $2 billion, reports Bloomberg. The two investors, who jointly hold about one-third of EDC, have engaged Goldman Sachs to discuss strategic alternatives, which could include divesting their stake. Several infrastructure funds and industry players have shown early interest, though formal negotiations are still in their infancy. Both Macquarie and a GIC-affiliate originally purchased their shares for about $1.3 billion in 2017. A recent non-binding $5 billion takeover offer for EDC by Indonesia's Barito Renewables Energy was rejected by EDC's major shareholder, First Gen Corporation, a diversified energy company owned by the Lopez family. First Gen operates across various renewable energy sectors, including geothermal, hydroelectric, wind, solar, and natural gas.",
  "summary": "Macquarie Asset Management and Singapore sovereign wealth fund GIC are exploring the potential sale of their joint stake in Philippine geothermal energy producer Energy Development Corporation (EDC), in a transaction that could be valued at approximately $2bn, according to a report by Bloomberg. The investors, which collectively own around one-third of EDC, have reportedly appointed Goldman Sachs…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}