Thai Super Energy buys controlling stake in 4 Viet solar plants

It will invest $384m to complete the construction of these projects by 2020.

Thailand’s Super Energy Corporation has reached an agreement with Vietnam's state-owned power utility Electricity of Vietnam (EVN) to acquire a controlling stake in four solar PV projects totalling 750MW in the Binh Phuoc Province of Vietnam for $457m.

The company will pay around $73m to buy 70% to 100% of the Loc Ninh 1, Loc Ninh 2, Loc Ninh 3 and Loc Ninh 4 solar plants. The remaining $384m will be invested to complete the construction of the projects by the end of 2020.

Super Energy Corporation invests in waste-to-energy and industrial water services, and is seeking to invest in renewable projects in Asia, including Japan and Indonesia.

This article was originally published by Enerdata.