Week in ASEAN: Malaysian investor buys into India PV player, Super Energy Corp All set to buy 750 MW of Vietnamese solar and GPSC to buy 39.5 MW of solar power capacity in Thailand

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Malaysian investor buys into India PV player

Malaysia’s Yinson Holdings Berhad has reached agreements to acquire a stake in a 140MW photovoltaic portfolio in India. Under the terms of the agreements Yinson has acquired a 37.5% equity interest in Rising Sun Energy, an India-incorporated company that owns two operational and adjacent solar parks in Rajasthan. Yinson will pay INR554m (€6.6m) for the stake, subject to closing conditions, while also providing funding of INR600m to repay certain outstanding liabilities of RSE.

Super Energy Corp All set to buy 750 MW of Vietnamese solar

Thailand-based Super Energy Corporation’s board of directors has given its nod to a plan entailing investment in 750 MW of solar projects in Vietnam. The value of the proposed investment will not exceed USD 456.7 million (EUR 414.2m), the energy group said in a bourse filing last week. Under the plan, the energy group will pay USD 72.9 million to get majority stakes in four photovoltaic (PV) assets that are under construction in the southern province of Binh Phoc. The balance amount of USD 383.8 million will be allocated to complete the power plants’ construction.

GPSC to buy 39.5 MW of solar power capacity in Thailand

Thai energy producer Global Power Synergy PCL has signed a deal to acquire the holding companies for nine solar power facilities with a combined capacity of 39.5 MW. Specifically, the company has agreed to take over NPS Star Group Co Ltd, World X Change Asia Co Ltd, PP Solar Co Ltd and TerraForm Operating (Thailand) Co Ltd. These firms hold plants located in Phichit, Suphanburi, Lopburi and Khon Kaen province that sell electricity under a 25-year contract with Provincial Electricity Authority (PEA). The existing power purchase agreement (PPA) will run until 2039-2040, according to the announcement.

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