ACEN Corp., the renewable energy arm of conglomerate Ayala Corp., said Tuesday that one of its subsidiaries has signed the deal that will give it a 49 percent stake in a solar project in Vietnam for $165 million.It said ACEN Vietnam Investments Pte. Ltd. signed a deal with Super Energy Corporation PCL, which currently owns and operates 837 megawatts of solar projects in Vietnam through Solar NT.The acquisition will be completed in four phases, with the first phase adding 141 MW of attributable capacity.
The 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.
“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,” said Patrice Clausse, chief executive officer of ACEN International.
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.”
