The company will take ‘regulatory uncertainties’ into account for new investments in the country
[SINGAPORE] The acquisition of a 49-megawatt (MW) hydropower asset in Vietnam by a unit of Sembcorp Industries has been delayed, the company said in a bourse filing on Wednesday (Jun 25).
The completion of the deal by Sembcorp Solar Vietnam, a wholly owned unit of Sembcorp, is still pending government approvals that are expected to be disclosed by the end of the year.
“Sembcorp will provide further updates if and when completion of the acquisition takes place,” the company said, adding that it will take regulatory uncertainties into account for new investments in the country.
The deal was originally part of the group’s plans to acquire a 245 MW renewables portfolio in Vietnam, as announced in November 2023.
Last June, the company completed three of the planned transactions, adding 196 MW of operational wind and solar assets to its portfolio.
At the time, Sembcorp had expected the acquisition of the hydropower asset to be completed by the second half of 2024. But in December, it revised the timeline to the first half of 2025, before the latest delay.
Shares of Sembcorp ended Wednesday at S$6.84, down 0.1 per cent.
Copyright SPH Media. All rights reserved.
