Sembcorp expands in Vietnam

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.