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.
AfDB funded two 15 MW solar plants in Chad to generate 61 GWh annually and cut emissions by 49,000 tons per year. (Image Credit/Source: LCEC/Pixabay)
Algeria and GE Vernova discussed 15 GW renewable energy projects, including solar, as Sonelgaz led talks in Atlanta. (Image Source:Zawya)
LRE powered up Morrow Lake Solar, supplying 200 MW to Microsoft with innovative solar tech and eco-friendly land use. (Image Credit/Source: StockSnap/Pixabay)
re:cap green energy acquired 51.7 MW solar projects from Milvio Energy, with completion expected between Q1 and Q4 of 2025. (Image Credit/Source: TheOtherKev/Pexels)