ThomasLloyd Energy enters Vietnam with USD-30m investment offer
- ThomasLloyd Energy Impact Trust Plc (LON: TLEI) has participated in an investment arrangement with project developer as well as EPC professional Solar Electric Vietnam (SEV) that asks for a preliminary investing of USD 30 million (EUR 30.8 m) on renewable energy assets in Vietnam.
The investment deal envisages the purchase of renewable resource assets currently had, regulated or recognized by SEV or originated by investment manager ThomasLloyd Global Asset Management (Americas) LLC. It includes a right of first refusal for TLEI in regard to new shovel-ready projects or functional assets created or originated by SEV.
The partnership launches with a USD-4.6-million deal for TLEI to get Viet Solar System Co Ltd (VSS), a privately-owned company with 6.12 MWp of solar arrays set up on the rooftops of certain factories near Ho Chi Minh City.
The renewable resource investment trust said in a declaration that extra opportunities in Vietnam have primarily been recognized, including a 19-MWp rooftop solar portfolio currently under exclusivity to TLEI.
"In spite of difficult market conditions, we are delighted to have actually formally gotten in Vietnam, a market that we have actually been observing for a variety of years, as we continue to execute on our investment technique," commented Michael Sieg, Group President of the Investment Manager of TLEI.
In June, TLEI consented to get Indian renewables platform SolarArise India Projects Pvt Ltd for USD 38.5 million. This week, it kept in mind that with the conclusion of both this purchase, expected soon, and also the Vietnamese purchase, it will have released over 86% of its net going public (IPO) proceeds.