Sev.en Global Investments acquires 51% stake in coal-fired plant from AES Corporation

AES Corporation announced that an agreement had been reached with Sev.en Global Investments to sell its 51% equity stake in the Mong Duong 2 coal-fired plant in Vietnam.

The plant is constructed on a 297-ha site in the Mong Duong Power Centre, approximately 200 km east of Hanoi, and is located alongside the Mong Duong 1 project. The 1,242-MW facility has been functional since 2015, supplying electricity to Hanoi and the northern region of Vietnam through a 25-year Power Purchase Agreement (PPA) with the state-owned utility, Vietnam Electricity.

Sev.en Global Investments' entry into the Asian market is marked by the acquisition of Mong Duong 2. The company is dedicated to managing the plant under the current build-operate-transfer contract, adhering to the most rigorous environmental and safety standards.