ib vogt and ACEN to set up 1 GW
asset platform for solar in Asia
April 4, 2022 – ib vogt and ACEN have agreed to set up a platform to fund the construction and operation of large-scale solar power plants throughout Asia, subject to applicable regulatory approvals. The joint venture partners will focus on late-stage, shovel-ready projects in Indonesia, Vietnam, Malaysia, Laos, Bangladesh, and other countries in the region.
The majority of projects will stem from ib vogt’s Asia development pipeline of more than 5 GW with initial projects planned to go into construction during 2022. The platform will also be open to acquire late-stage projects from local and regional developers.
The venture targets a minimum operational capacity of 1 GW over the coming years with the potential for further extension. Under the terms of the deal, ACEN expects to invest up to US $200 million in equity as well as debt funding to accelerate the deployment of renewable energy in Asia.
“We are enthusiastic to be working with ACEN and are convinced that the combination of the unique skillsets and strengths of both parties will accelerate our ability to impact the transition to clean, sustainable energy in Asia. This platform will complement our global strategy of developing a diversified portfolio of high quality IPP assets,” said Anton Milner, CEO of ib vogt.
“ACEN has a strong history of partnering with best-in-class energy developers to build renewable energy projects across the Asia Pacific region. ib vogt has a proven track record of developing solar projects across Europe, Asia, and North Africa, and we are very excited to partner with ib vogt as we set up a platform to continue building out our presence across the region together,” said Patrice Clausse, President and COO of ACEN International.
DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN’s plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure.