ACCIONA Energía invests in Southeast Asia by partnering with The Blue Circle. The company acquires a 50% stake in The Blue Circle and becomes its principal shareholder. This investment will enable the company to develop, build and operate projects in Southeast Asia.
ACCIONA Energía expands its geographical diversification
ACCIONA enters into a strategic partnership with The Blue Circle. This Singapore-based wind project developer has an installed operational capacity of 84 MW. In addition, its total portfolio amounts to 3.8 GW in multiple countries such as the Philippines and Sri Lanka.
Thus, with this agreement, ACCIONA Energía invests massively in Southeast Asia. In fact, the transaction amounts to $34 million. After recently investing in Australia, ACCIONA Energía continues to expand its portfolio of projects under development and its geographical diversification.
A desire confirmed by Rafael Mateo, CEO of ACCIONA Energía:
“Following ACCIONA Energía’s investments in Australia, we look forward to joining The Blue Circle to enter the renewable energy markets in Southeast Asia.”
Stimulating growth in Southeast Asia
The energy transition seems to be accelerating in Southeast Asia. The 38th meeting of energy ministers of the Association of Regional Nations confirms this desire. A desire in which the renewable energy developer The Blue Circle has largely participated.
Founded in 2013, The Blue Circle, has developed many projects there as Olivier Duguet, its president and CEO, notes:
“The Blue Circle itself has been a wind energy pioneer in Vietnam since 2017, developing projects in Southeast Asia since 2013, establishing early leadership positions in many relevant Southeast Asian countries with a secured landbank of 94,475 hectares to date.”
Thus, ACCIONA Energía’s investment in several Southeast Asian countries offers interesting growth prospects for the renewable energy sector.
