Scatec ASA to sell 39MW Dam Nai Wind Farm to Sustainable Asia Renewable Assets
Type: Sale · Technology: Onshore Wind · Country: Vietnam · Capacity: 39 MW · Value: $27M · Announced: 2024-09-13
Scatec ASA sold its 39MW Dam Nai Wind Farm in Vietnam to Sustainable Asia Renewable Assets. This divestment optimizes Scatec's portfolio and recycles capital for new growth, while expanding Sustainable Asia Renewable Assets' footprint in the region's rapidly growing renewable energy sector.
Analysis
Scatec ASA has divested its 39MW Dam Nai Wind Farm in Vietnam for $27 million, a strategic move designed to optimize its portfolio and recycle capital. This sale, announced on September 13, 2024, allows the renewable energy solutions provider to reallocate resources towards new growth initiatives across emerging markets. For Sustainable Asia Renewable Assets, the acquisition of this 39MW onshore wind asset immediately expands its operational footprint within Vietnam's rapidly developing clean energy sector. The $27 million transaction provides Sustainable Asia Renewable Assets with a ready-made renewable energy project, aligning with its specialization in Asia-focused infrastructure. Scatec, a provider focused on accelerating access to reliable and affordable clean energy, develops, builds, owns, and operates plants, making this divestment of the 39MW Dam Nai Wind Farm a clear capital recycling exercise. Sustainable Asia Renewable Assets, an Asia-focused investment and development firm specializing in renewable energy infrastructure, directly expands its regional presence with this acquisition in Vietnam. This purchase is supported by its parent, the SUSI Asia Energy Transition Fund (SAETF), a $250 million target fund managed by SUSI Partners, which explicitly invests in renewable energy infrastructure across Southeast Asia. The Dam Nai Wind Farm acquisition aligns precisely with SAETF's mandate to deploy capital into the region's energy transition.
Key points
- Scatec ASA sold its 39MW Dam Nai Wind Farm.
- The onshore wind asset in Vietnam was valued at $27 million USD.
- Sustainable Asia Renewable Assets acquired the project.
- The buyer is backed by the SUSI Asia Energy Transition Fund (SAETF), a $250 million target fund.
- The deal was announced on September 13, 2024.
Counterparties
- Sustainable Asia Renewable Assets (Buyer)
- SUSI Asia Energy Transition Fund (SAETF) (Parent Company)
- Scatec ASA (Seller)