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Business

Sembcorp Boosts Green Power Presence in Vietnam through a 245MW Asset Grab

Sembcorp Boosts Green Power Presence in Vietnam through a 245MW Asset Grab In a move that’s got everyone buzzing (well, at least in the renewable energy circles), Sembcorp Industries, the cool cats in the energy world, have just sealed the deal of the century.

READ: Dragon’s Dogma 2 Unveils Thrilling Latest Enhancements

Sembcorp’s Power Play in Vietnam

And no, it’s not some secret mission to power their underground lair—though that would be pretty awesome. They’ve actually snagged the majority stakes (somewhere between 73% and 100%, but who’s counting?) in some subsidiaries of Gelex Group Joint Stock Company.

Now, this isn’t just your average business handshake; it’s a full-on acquisition extravaganza! Of course, there’s a catch – regulatory approvals are still pending. It’s like waiting for your pizza delivery; you know it’s coming, but the anticipation is killing you.

Energizing Vietnam: Sembcorp’s Renewable Arsenal

What’s in the goodie bag, you ask? Brace yourselves for a whopping 245MW of operational renewable goodies. We’re talking wind, solar, and hydropower—because why settle for just one type of power when you can have them all? This brings Sembcorp’s power portfolio in Vietnam to a jaw-dropping 450MW.

Beyond Borders: Sembcorp’s Vision for Vietnam’s Renewable Energy Landscape

That’s like upgrading from a tricycle to a turbocharged scooter. But wait, there’s more! Once this cosmic-level transaction is complete, Sembcorp’s total renewable capacity will skyrocket to 12.2GW. That’s a lot of power. We can practically hear the hum of energy vibrating through the air.

Dollars and Watts: Unpacking Sembcorp’s S$218 Million Deal

The assets they’re getting their hands on come with long-term power purchase agreements with Vietnam Electricity. It’s like having a golden ticket, ensuring stability and predictability in power generation. They’re basically playing the long game and winning.

And the financial dance? Picture this: approximately S$218 million doing the tango between internal cash resources and external borrowings. It’s like Sembcorp is saying, “Hey, we’ve got the moves, and we’re not afraid to show it.”

Regulatory Riddles: Will Sembcorp’s Vietnam Venture Get the Green Light?

Now, mark your calendars for the first half of 2024 because that’s when this epic saga is set to conclude, pending the green light from the regulators. It’s like waiting for the season finale of your favorite show. Will they get the approval? Will there be a plot twist? The suspense is killing us!

Sembcorp’s Big Bang: Why 2024 Marks a Milestone in the Energy Universe

But fear not, financial gurus, because Sembcorp assures us that this won’t be a make-or-break moment for their earnings or net tangible assets. It’s like going on a shopping spree without denting your

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