46.7 MW


AH1, Sông Luỹ, Bắc Bình, Bình Thuận. | Vietnam

Parabolic Solar Power Company Limited (“PSP”), a subsidiary of the Company, and Asia Investment, Development & Construction Sole Co., Ltd. (the “Seller”) in respect of the purchase of shares 11,670,833 ordinary shares in AIDC Solar Power Number 1 Pte. Ltd. (the “Target Company”), a limited company incorporated under the laws of Republic of Singapore, having main objectives to hold shares in Binh Thuan Solar Power Investment Joint Stock Company (“B-Solar”), a company operating solar power plant named “Song Luy 1 Solar Power Plant” (“Song Luy Power Plant”) located in Vietnam. Therefore, the entry into this transaction will result in PSP becoming a shareholder holding 11,670,833 shares in the Target Company or totaling 83.33 percent of the total sold shares in the Target Company, and the Target Company becoming a subsidiary of the Company. This investment of the Company in the Target Company is in line with the Company’s business operation strategy and will increase operation capacity of the Company as well as its ability to generate income that also strengthens cash flow and the Company’s financial statements for long term since the solar power plant of B-Solar has entered into a power purchase agreement with Vietnam Electricity (EVN) having a term of 20 years. This is also considered a significant opportunity to expand the Company’s investment in Vietnam and other CLMV group of countries in the future term in response to the Company’s business strategy focusing on business expansion.