Agreement reached for BRE Singapore to buy the Mui Dinh project from Ven-wind New Energy
Enercon and Eab New Energy company Ven-wind New Energy is to sell the almost 38MW Mui Dinh wind farm in Vietnam to BRE Singapore, a subsidiary of Banpu Power, for an undisclosed price.
Ven-wind has entered into a share purchase agreement with BRE Singapore for 100% of the former's interests in El Wind Mui Dinh, which owns the 37.6MW project in Ninh Thuan Province.
Mui Dinh comprises 16 Enercon E103/2350 turbines and has been in full operation since April 2019.
It benefits from a 20-year power purchase agreement with EVN, Vietnam’s state-owned utility.
Ficus Capital acted as exclusive financial adviser to Ven-wind New Energy on the sale with Rodl & Partner providing legal advice.
Evercore acted as financial adviser to BRE Singapore with Hunton Andrews Kurth and Zico Law Vietnam providing legal advice.
Completion of the transaction is subject to customary closing conditions and is expected to take place by the end of this year.