GreenYellow buys Qair’s unit in Vietnam, stake in 50-MWp solar park
Solar panels. Featured Image: Jackiso/Shutterstock.com
French clean energy solutions provider GreenYellow has acquired the Vietnamese unit of compatriot Qair along with its majority interest in a 49.5-MWp solar farm in the Asian country’s Binh Dinh province.
The transaction was confirmed on social media on Friday by Huy Ng, Partnership and Development Manager at GreenYellow Asia. Financial details were kept under wraps.
The purchase was agreed upon in August and includes Qair’s local team in Vietnam. As part of the arrangement, GreenYellow has taken possession of Qair's 70% stake in the Binh Dinh solar farm. Located in Cat Hiep, the plant has been generating electricity since 2019. Its co-owner is Truong Thanh Vietnam Group.
The acquisition is GreenYellow's first large-scale deal in the Association of Southeast Asian Nations (ASEAN), where it is due to announce more deals next year, Huy Ng said. Via the deal, the total renewable energy portfolio of the French firm in Vietnam and Southeast Asia has expanded to more than 250MWp, of which over 150 MWp are solar assets in Vietnam.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.