Sembcorp Provides Update on Acqisition of 245 MW Renewables Portfolio in Vietnam

Further to its announcements on November 10, 2023, and June 19, 2024, Sembcorp Industries (Sembcorp) has provided an update regarding its acquisition of 245cMW of operational renewable energy assets including wind, solar, and hydropower, in Vietnam.

The update pertains specifically to the acquisition of a 49 MW hydropower asset, owned by a subsidiary of GELEX Group Joint Stock Company, through Sembcorp’s wholly-owned subsidiary, Sembcorp Solar Vietnam Pte Ltd. The transaction, involving Sembcorp’s acquisition of a 73% stake in the hydropower asset, was initially expected to be completed in the second half of 2024.

However, the regulatory approvals are still pending, the anticipated completion date has been revised to the first half of 2025.

Sembcorp remains committed to advancing its renewable energy strategy in the region and will provide further updates as progress is made.