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Scatec ASA, a leading renewable energy provider, has agreed to sell the 39 MW Dam Nai Wind Farm in Vietnam, along with its operating company, to Sustainable Asia Renewable Assets (SARA), part of the SUSI Asia Energy Transition Fund (SAETF). Scatec will receive an upfront payment of USD 27 million for its full equity stake, with the potential for additional earn-out payments of up to USD 13 million, depending on certain conditions being met by May 2026.
“We have decided to exit Vietnam after operating the Dam Nai wind farm since the acquisition of SN Power in 2021. We are satisfied with the agreed price and the sale is in line with our strategy to optimise our portfolio and focus on markets where we see further attractive growth opportunities. We are confident that SUSI will be a strong owner of the wind farm and will continue to contribute to the renewable energy journey of Vietnam. We would like to thank our local team for their contributions over the last years, as well as our partners, government stakeholders and lenders,” said Scatec CEO Terje Pilskog.
