General Announcement::ACEN to acquire 49% interest in Vietnam solar platform of Super Energy Corporation

Issuer & Securities

Issuer/ Manager
AC ENERGY FINANCE INTERNATIONAL LIMITED
Securities
AC ENER FINUS$110M5.25%N290212 - XS1946107007 - IDTB
AC ENER FINUS$225M4.75%N240129 - XS1940840132 - OEHB
AC ENER FIN US$300M5.1%N - XS2258819874 - RKIB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
02-Feb-2022 12:29:56
Status
New
Announcement Sub Title
ACEN to acquire 49% interest in Vietnam solar platform of Super Energy Corporation
Announcement Reference
SG220202OTHRJ62J
Submitted By (Co./ Ind. Name)
AC Energy Corporation / Irene Maranan
Designation
Head, Corporate Communications and Sustainability
Description (Please provide a detailed description of the event in the box below)
* SUPER, through its group companies, owns and operates 837 MW of solar projects in Vietnam
* This investment will expand ACEN's international portfolio to more than 1,900 MW, of which more than 1,000 MW are in Vietnam
* The beginning of a partnership between ACEN and Super to continue expanding their renewable footprints in Vietnam as well as exploring other Southeast Asian markets

January 31, 2022 - AC Energy Corporation ("ACEN"), through its wholly-owned subsidiary, AC Energy Vietnam Investments Pte. Ltd. ("ACEV") and Super Energy Corporation Public Company Limited ("SUPER"), through its subsidiary, Super Energy Group (Hong Kong) Co., Limited ("Super HK"), have signed an agreement to form a strategic partnership to develop, own and operate renewable energy projects across ASEAN.

ACEV signed a share purchase agreement (with conditions precedent) to acquire a 49% interest of Solar NT, owned by Super HK. SUPER is a premier Thai renewable energy developer and investor. The transaction will be via secondary shares acquisition for a total consideration of US$ 165 million.

Post-restructuring, Solar NT will own and operate nine solar power plants across Vietnam with a total capacity of approximately 837 megawatts.

The transaction is the beginning of a strategic partnership between ACEN and SUPER which will continue to expand their renewable footprints in Vietnam as well as exploring other Southeast Asian markets.

ACEN's growth is anchored on partnerships in existing and new geographies and utilizing new technologies to lead the charge towards a sustainable future. Both ACEN and SUPER have a strong commitment towards sustainability and this strategic partnership will drive growth in renewable energy development across Asia.

Bank of Ayudhya PCL is the sole financial advisor for SUPER for this transaction.

Attachments

20220129 PSE SGX Disclosure ACEN to acquire 49 percent stake in Super solar platform in Vietnam FINAL.pdf
Total size =145K