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Sembcorp’s Vietnam subsidiary faces further delays in acquiring 49MW hydropower asset

Nicole Lim
Nicole Lim • 1 min read
Sembcorp’s Vietnam subsidiary faces further delays in acquiring 49MW hydropower asset
This delay is due to pending government approvals. The completion of the project’s acquisition has already been delayed twice. Photo: Sembcorp
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Sembcorp Industries (Sembcorp)’s wholly-owned subsidiary, Sembcorp Solar Vietnam, has delayed the completion of the acquisition of a 49 megawatt (MW) hydropower asset.

This is due to pending government approvals by the end of 2025. The asset is one of four renewable projects included in a 245MW portfolio that Sembcorp agreed to acquire from Vietnam’s Gelex Group Joint Stock Company back in late 2023.

This is the second time that the acquisition has been delayed. The acquisition was originally expected to be completed by the second half of 2024, and later on in the first half of 2025.

Sembcorp has completed the acquisition of majority stakes in three subsidiaries, adding 196MW of operational wind and solar capacity to its portfolio.

Shares in Sembcorp closed 1 cent lower or 0.146% down at $6.84 on June 25.

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