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.