• ACEN will acquire 49% of the platform, which has 837 MW of solar assets in Vietnam • The acquisition will be completed in four phases, with the first phase adding 141 MW of attributable capacity • This four-phased acquisition will bring ACEN's renewables portfolio in Vietnam-Lao PDR to 1,200 MW of attributable capacity • Strategic partnership has potential for expansion of renewable energy developments across ASEAN
26 June 2023 – ACEN CORPORATION (“ACEN”), through its subsidiary, ACEN Vietnam Investments Pte. Ltd., moves forward on signing the Shareholders’ Agreement and other definitive agreements for the closing of the acquisition of Super Energy Corporation Public Company Limited’s (“SUPER") solar power business in Vietnam. This strategic partnership follows the share purchase agreement signed by the two companies in 2022.
SUPER currently owns and operates 837 MW of solar projects in Vietnam through Solar NT; ACEN will take up 49% ownership of Solar NT through a phased acquisition. Closing of the first phase of the transaction has just been completed, while the remaining phases are expected to be completed within the year, with a total consideration estimated at $165 million.
Patrice Clausse, CEO of ACEN International, said: "The partnership with SUPER marks the beginning of a long-term collaboration as we will continue to look for new opportunities to grow our portfolio and jointly develop renewable energy projects across ASEAN."
ACEN and SUPER share the same belief about a sustainable future, and their combined strengths and extensive experience in renewable energy development will unlock new opportunities to grow the strategic partnership’s portfolio, create jobs and accelerate the energy transition.
Jormsup Lochaya, chairman and CEO of SUPER, said: “This synergy will enhance SUPER’s growth potential and strengthen the renewable energy business structure, which will support our strategic partnership in many areas, including capital, personnel, technology, and networks for additional investment opportunities in the future.”
This total strategic investment will bring ACEN's Vietnam-Lao PDR portfolio to approximately 1,200 MW in attributable renewables capacity, further solidifying its position as a leading renewable energy player in Southeast Asia.
### |
About ACEN ACEN (PSE:ACEN) is the listed energy platform of the Ayala Group. The company has ~4,300 MW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India, with a renewable share of 98%, which is among the highest in the region. ACEN’s aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW of renewables capacity by 2030. ACEN is committed to transition the company’s generation portfolio to 100% renewable energy by 2025 and to become a Net Zero greenhouse gas emissions company by 2050.
www.acenrenewables.com
About Super
Super Energy Corporation was established in Thailand in 1994. In 2005, Super Energy Corporation was listed on the Stock Exchange of Thailand (SET), and focused on supply of renewable energy-derived power, including solar power, wind power and waste-to-energy.
In 2017, Super Energy Corporation expanded its investment in Vietnam’s green energy industry, namely, wind power and solar power, with the aim of dominating the domestic renewable energy market and becoming the leading manufacturer in ASEAN, while pursuing sustainable development, and guaranteeing a clean and green environment.
The Corporation has developed 09 solar power projects and 04 wind power projects, covering the South and Central Highlands, so far, contributing to an increase in the percentage of renewable energy-derived power in overall power industry of Vietnam.
http://www.supercorp.co.th/index.php
For inquiries and more information, please contact:
Irene Maranan Head – Corporate Communications and Sustainability Email: [email protected]
DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN’s plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure. |