Ayala-led power generation firm ACEN, through its subsidiary AC Energy Vietnam Investments Pte. Ltd. (ACEV), signed an agreement with Super Energy Corp. Public Co. Ltd. (SUPER) through unit Super Energy Group (Hong Kong) Co. Ltd. (Super HK) for the development of renewable energy (RE) projects across Asean, further expanding its footprint in the region.
ACEV signed a share purchase agreement via secondary shares acquisition for a 49-percent interest of Solar NT, owned by Super HK for a total consideration of $165 million (P8.44 billion).
ACEN said post-restructuring, Solar NT will own and operate nine solar power plants across Vietnam with a total capacity of approximately 837 megawatts (MW) which is set to be followed with more RE projects in Vietnam and other Southeast Asian markets.
“This transaction reinforces ACEN’s position as a pioneer player in the Asean renewable market. ACEN is committed to supporting the energy transition in the region. This helps create more sustainable jobs as we expand our operational portfolio which brings us closer to achieving our goal to become the largest listed renewables platform in Southeast Asia,” said Patrice Clausse, AC Energy International chief operating officer.
ACEN and partner UPC Solar Asia Pacific earlier this week announced they started the construction of the 420 MW peak Masaya solar farm in India, the biggest for the said technology in the country to date.
ACEN currently has over 3,000 MW of attributable capacity across Asia Pacific, with 18,000 MW in its pipeline of renewables projects being developed organically and with its various partners across the region.
An estimated 500 MW of these projects are expected to reach financial close by the end of the first quarter.
Apart from the Philippines, Vietnam and India, ACEN also has operations in Australia. -J. Macapagal
