AC Energy to acquire 49 per cent stake in Super Energy Corporation's solar platform

February 10, 2022 | 07:58

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AC Energy Corporation (AC Energy), through its wholly-owned subsidiary, AC Energy Vietnam Investments Pte. Ltd. (ACEV) and Super Energy Group Hong Kong Co., Ltd. have formed a strategic partnership to develop and operate renewable energy projects across ASEAN, especially Vietnam.

AC Energy to acquire 49 per cent stake in Super Energy Corporation's solar platform

AC Energy to acquire 49 per cent interest in Vietnam solar platform of Super Energy Corporation

ACEV signed a share purchase agreement (with conditions precedent) to acquire a 49 per cent stake of Solar NT, owned by Super HK.

The transaction will be via secondary shares acquisition for a total consideration of $165 million. Post-restructuring, Solar NT will own and operate nine solar power plants in Binh Phuoc, Ninh Thuan, Binh Thuan, An Giang, and Phu Yen with a total capacity of approximately 837MW.

The transaction is the beginning of a strategic partnership between AC Energy and Super HK which will continue to expand their renewable footprints in Vietnam as well as explore other Southeast Asian markets.

“We are delighted to forge a strategic partnership with Super Energy Corporation through this investment,” said AC Energy president and CEO Eric Francia. “Super has accomplished a lot in Vietnam, and we wish to support its solar expansion through our partnership. This will also help accelerate AC Energy’s aggressive renewables expansion across the region.”

AC Energy’s growth is anchored on partnerships in existing and new geographies and by utilising new technologies to lead the charge towards a sustainable future. Both ACEN and Super have a strong commitment towards sustainability and the strategic partnership is expected to drive growth in renewable energy development across Asia.

By Oanh Nguyen

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