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  • Writer's pictureBy The Financial District

ACEN Closes First Phase Of Vietnam Acquisition

The Ayala Group’s renewable energy firm ACEN Corp., through its subsidiary ACEN Vietnam Investments Pte. Ltd., has completed the first phase of the solar platform of Super Energy Corporation Public Company Limited in Vietnam.


Photo Insert: Super Energy currently owns and operates 837 MW of solar projects in Vietnam through Solar NT and ACEN will take up 49% ownership of Solar NT through a phased acquisition.



In a disclosure to the Philippine Stock Exchange, ACEN said it is moving forward on signing the Shareholders’ Agreement and other definitive agreements for the closing of the acquisition of Super Energy’s solar power business in Vietnam.


This strategic partnership follows the share purchase agreement signed by the two companies in 2022.



Super Energy currently owns and operates 837 MW of solar projects in Vietnam through Solar NT and 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.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

"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 ACEN International CEO Patrice Clausse.


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.


Business: Business men in suite and tie in a work meeting in the office located in the financial district.

“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,” said Super Energy Chairman and CEO Jormsup Lochaya.


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.





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