Super Energy Corp. bought two wind power projects HBRE Phu Yen and Gia Lai HBRE 250MW for 17.5 million dollars
6/8/2019 2:00:00 PM

Thai energy company Super Energy Corporation (SUPER), formerly known as the Superblock, signed an agreement to acquire two wind power projects in Vietnam for 577 million baht (17.5 million dollars).

Two projects - PHU YEN and HBRE HBRE GIA LAI - with a capacity of 250 MW combined. SUPER will conduct transactions through two subsidiaries Super Wind Energy and Super Energy Group, according to the company"s disclosure to the stock Exchange of Thailand on Thursday.

Vietnam has high potential to develop renewable energy thanks to the support of the government, including tax incentives and benefits of access to capital, the chairman of the SUPER, Jormsup Lochaya said. We hope that both projects will help strengthen competitiveness and enhance our revenue in the long run.

The company said it will use its working capital to finance both the acquisition. Currently, both projects are in the process of ensuring a license from the state agencies of Vietnam.

Earlier, SUPER has invested in solar power plants in Vietnam with a total capacity of 236.72 MW. It plans to start operation of a solar farm in June and is targeting revenue of clock in the second half of this year.

He added that they plan to increase investments abroad in the next two years. Besides Vietnam, the company is looking to invest in China, Japan and Southeast Asian countries.

These two projects have now been approved in the development planning of national electricity and granted investment certificates.

HBRE Gia Lai project (50MW) consists of shareholders:

HBRE Group Co., Ltd. 500,000 shares (10%)

NEWS TA Mr.HO 4,000,000 shares (80%)

Mrs. Phan Thi Thanh Thuy 500,000 shares (10%)

Capital: 50 billion VND. Transaction price: US $ 3.5 million

Phu Yen HBRE project (200 MW), including shareholders:

HBRE Group Co., Ltd. 500,000 (10%)

NEWS TA Mr.HO 4,000,000 (80%)

Mrs. Phan Thi Thanh Thuy 500,000 (10%)

Charter capital of 50 billion VND. The trading price of US $ 14 million.

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