Sembcorp Solar Vietnam, plans to acquire 73-100% majority stakes in Gelex subsidiaries, adding 245 MW renewable assets in Vietnam. The $218 million deal includes wind, solar, and hydropower, expanding Sembcorp’s total capacity to 12.2G W. Long-term PPAs with Vietnam Electricity secure the assets. The transaction aims for completion in H1 2024, with no expected material impact on Sembcorp’s 2023 financials.
Sembcorp expands in Vietnam
Sembcorp’s financial mix includes internal resources and external borrowings for this acquisition. Illustration by Sembcorp.
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