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Scatec finalizes the sale of its wind farm in Vietnam to the SUSI Asia Energy Transition Fund

Scatec ASA has concluded the sale of its Dam Nai wind farm in Vietnam to the SUSI Asia Energy Transition Fund, with an initial payment of USD 27 million, along with additional contingent payments.

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Scatec ASA has completed the sale of its 39-megawatt (MW) Dam Nai wind farm in Vietnam to the SUSI Asia Energy Transition Fund. This transaction follows the initial announcement made in September 2024 and marks the end of Scatec’s operations in Vietnam.

Details of the transaction

The initial payment for the sale amounts to USD 27 million. In addition to this, there are contingent payments of up to USD 13 million, which are subject to certain conditions being met before May 2026. This payment structure links part of the funding to the future performance of the asset.

Accounting gain and perspectives

The transaction has generated an accounting gain of approximately USD 8 million for Scatec. This sum will be recorded in the first quarter of 2025 and includes the fair value estimate of the contingent consideration. The transaction will strengthen the company’s financial results, while also allowing Scatec to focus on more strategic projects in regions with greater growth potential.

Exit from the Vietnamese market and new strategic direction

By selling this asset, Scatec exits the Vietnamese market entirely, marking a key step in its strategic shift. The company now plans to focus its efforts on renewable energy projects in regions with more favorable growth prospects. This sale allows Scatec to generate significant liquidity while optimizing its portfolio to better capitalize on global growth opportunities.

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