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Following the stock exchange notice on 13 September 2024 regarding the sale of Scatec ASA’s 100% stake in the 39-megawatt (MW) Dam Nai wind farm and its associated operating company in Vietnam to Sustainable Asia Renewable Assets, a utility-scale renewable energy platform of the SUSI Asia Energy Transition Fund, the transaction has now been completed.
Scatec has received the initial payment of USD 27 million, with the potential for additional earn-out payments of up to USD 13 million, contingent on certain conditions being met before May 2026.
On a consolidated and proportionate basis, the transaction has resulted in an accounting gain of approximately USD 8 million at the Scatec Group level, including a fair value estimate of the contingent consideration. This gain will be recognized in the first quarter of 2025. Following the completion of this transaction, Scatec will exit all operations in Vietnam.
