Global Infrastructure SherpaScatec ASA to sell 39MW Dam Nai Wind Farm to Sustainable Asia Renewable Assets
USD27M
Deal Value
39 MW
Capacity
Scatec ASA has signed an agreement to sell its 39MW Dam Nai Wind Farm and its associated operating company in Ninh Thuan province, Vietnam, to Sustainable Asia Renewable Assets, a platform of the SUSI Asia Energy Transition Fund (SAETF). Scatec will receive an upfront consideration of $27 million for its 100% equity stake, with potential for additional earn-out payments of up to $13 million. This divestment aligns with Scatec's strategy to optimize its portfolio and exit the Vietnamese market.
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Counterparts (3)
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Scatec is divesting its 39MW Dam Nai Wind Farm in Vietnam, receiving an initial $27 million for its 100% equity stake. This move aligns with the renewable energy solutions provider's stated strategy to optimize its portfolio and fully exit the Vietnamese market. Sustainable Asia Renewable Assets, backed by the SUSI Asia Energy Transition Fund, is acquiring the onshore wind asset. The deal includes potential earn-out payments of up to $13 million, bringing the total potential consideration to $40 million. This transaction allows Scatec, known for developing, building, owning, and operating plants in emerging markets, to streamline its focus.
- Scatec receives $27M upfront for its 100% equity stake.
- Potential for an additional $13M in earn-out payments.
- The 39MW onshore wind farm is located in Ninh Thuan province, Vietnam.
- This deal marks Scatec's complete divestment from the Vietnamese market.
Timeline
Announced
Sep 13, 2024
Signed
Closed
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