Partnership between Sembcorp Industries and BCG Energy for up to 1.5 GW of renewable energy projects in Vietnam
Allen & Gledhill (Vietnam), as transaction counsel, advised Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industries (“Sembcorp”), on its collaboration with BCG Energy (“BCGE”) for the development of renewable projects in Vietnam. Under the collaboration, Sembcorp and BCGE will jointly develop a pipeline of up to 1.5 GW of wind and solar projects in Vietnam. The first phase will involve an initial funding of US$30 million for the development of a 550 MW portfolio of utility-scale nearshore and onshore wind assets across three provinces in Vietnam, namely in Ca Mau, Tra Vinh and Soc Trang. These projects have been secured by BCGE and are expected to come online by end of 2022.
Advising Sembcorp were Allen & Gledhill (Vietnam) Managing Partner Oh Hsiu-Hau and Partner Jonathan Lin.
