AC Energy Completes $165 Million Acquisition of Super Energy Projects
AC Energy (Acen), a subsidiary of Ayala Corporation led by Filipino billionaire Jaime Zobel de Ayala, has successfully completed the acquisition of the initial phase and is now poised to acquire Super Energy Corporation’s solar energy business in Vietnam. The estimated value of this acquisition is $165 million. Acen announced on June 26 that Super Energy Corporation, through its subsidiary Solar NT, currently owns and operates solar energy projects in Vietnam with a substantial capacity of 837MW. As part of the agreement, Acen will acquire a 49% ownership stake in Solar NT through a phased acquisition strategy.
This investment will significantly strengthen Acen’s renewable energy portfolio in Vietnam and Laos, bringing it to approximately 1,200MW and solidifying its position as a prominent player in the Southeast Asian renewable energy sector. Patrice Clausse, CEO of Acen International, emphasized that the collaboration with Super Energy marks the beginning of a long-term partnership, with both sides committed to exploring new opportunities for expanding their investment portfolio and advancing renewable energy projects across the ASEAN region.
Jormsup Lochaya, chairman and CEO of Super Energy Corporation, stated that this collaboration will enhance Super Energy’s growth potential and strengthen its renewable energy business structure. It will enable strategic synergies in crucial areas such as capital, human resources, technology, and networks.
As of March, Acen’s renewable energy capacity stands at nearly 4GW, with 1.6GW in the Philippines, 1GW in Australia, 0.6GW in Vietnam, 0.5GW in India, and 0.3GW in Indonesia, along with additional holdings in various other countries. Super Energy Corporation has been involved in renewable energy projects in Vietnam since 2017, successfully operating nine solar projects and one wind project.
In January, Super Energy Corporation’s subsidiary, Asia Energy Ltd., began construction of the Asia Dak Song 1 wind power project in Dak Nong province, with a capacity of 50MW. In March, the company announced plans to allocate approximately $1.2 billion for financing renewable energy projects in Thailand and Vietnam from 2023 to 2025. Notably, the company has significant investments planned for the development of wind farm infrastructure in Vietnam in the coming year, including an offshore project in Soc Trang capable of producing 30MW and a nearshore wind farm in Bac Lieu generating 70MW.