AC Energy buys 49% stake of Super Energy Corp.’s Vietnam arm

This is seen to expand the company’s international portfolio to over 1,900MW.

AC Energy Corporation (ACEN), through AC Energy Vietnam Investments, will acquire 49% of the interest of Solar NT, owned by Super HK, with total consideration of US$165m.

At present, SUPER owns and operates 837 megawatts (MW) of solar projects across Vietnam. The investment is expected to expand ACEN’s international portfolio to more than 1,900MW, of which over 1,000MW are in Vietnam.

“This will help accelerate ACEN’s aggressive renewables expansion across the region,” ACEN President and CEO Eric Francia said.

ACEN noted the transaction is only the start of ACEN’s and SUPER’s plans to expand their renewable footprint in Vietnam as well as other Southeast Asian markets.

“This transaction reinforces ACEN’s position as a pioneer player in the ASEAN renewable market,” Patrice Clausse, COO of AC Energy International and Director of ACEV, said.

“This helps create more sustainable jobs as we expand our operational portfolio which brings us closer to achieving our goal to become the largest listed renewables platform in Southeast Asia.”

ACEN, owned the Philippines’ Ayala Group, has over 3,000MW in the Philippines, Vietnam, Indonesia, India, and Australia. It set a 5,000MW of renewables capacity by 2025, and a net-zero target by 2050.