Scatec closes sale of Vietnam wind power plant to SUSI Asia Energy Transition Fund

Scatec Solar ASA

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Oslo, 13 February 2025: Reference is made to the stock exchange notice on 13 September 2024, regarding the sale of Scatec ASA’s 100 percent stake in the 39-megawatt (MW) Dam Nai wind farm and the associated operating company in Vietnam to Sustainable Asia Renewable Assets, a utility-scale renewable energy platform of the SUSI Asia Energy Transition Fund.

The transaction is now completed, and Scatec has received the initial payment of USD 27 million, with potential for additional earn-out payments of up to USD 13 million that are subject to certain conditions being fulfilled prior to May 2026.

At the Scatec Group level, the transaction generated an accounting gain of approximately USD 8 million on a proportionate and consolidated basis, including a fair value estimate of the contingent consideration, which will be recognised in the first quarter 2025. Following the transaction Scatec will exit all operations in Vietnam.

For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 656, andreas.austrell@scatec.com

For media: Meera Bhatia, SVP External Affairs & Communications, phone: +47 468 44 959, meera.bhatia@scatec.com

About Scatec 

Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 5 GW in operation and under construction across five continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn. 

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act