AboitizPower to acquire Vietnam's 40 MW Dam Nai wind farm

AboitizPower has signed a share purchase agreement for the acquisition of 100% ownership of Mekong Wind Pte. Ltd. from Armstrong Southeast Asia Clean Energy Fund Pte. Ltd. The acquisition is expected to complete in the fourth quarter of 2019.

The acquisition involves all legal and economic interest in Mekong Wind, which in turn holds a 99.9999934% direct interest in Dam Nai Wind Power JSC. Dam Nai Wind owns and operates the 39.4 MW onshore wind power facility in Ninh Thuan Province, Southern Vietnam.

The total purchase consideration payable for the acquisition of Mekong Wind is approximately US$46 million which may be subject to certain closing adjustments.

Dam Nai Wind is one of the first wind power projects in Vietnam to have been successfully brought online with commercial operations having commenced in late 2017.