Reference is made to the stock exchange notice on 13 September 2024, regarding the sale of Scatec ASA’s 100 percent stake in the 39-megawatt (MW) Dam Nai wind farm and the 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 is now completed, and Scatec has received the initial payment of USD 27 million, with potential for additional earn-out payments of up to USD 13 million that are subject to certain conditions being fulfilled prior to May 2026. At the Scatec Group level, the transaction generated an accounting gain of approximately USD 8 million on a proportionate and consolidated basis, including a fair value estimate of the contingent consideration, which will be recognised in the first quarter 2025. Following the transaction Scatec will exit all operations in Vietnam.
Source: Scatec
