Mainstream Renewable Power Nabs 80% Stake of Solar Project Pipeline
International law firm Allens has advised Mainstream Renewable Power on its majority acquisition in a local company seeking to develop a portfolio of solar power projects in Vietnam.
Deal: Mainstream Renewable Power has acquired an 80 per cent stake in “a local company” seeking to develop a 400-plus-megawatt portfolio of solar power projects in Vietnam.
Area: Energy and resources, projects.
Key players: The Allens legal team was led by projects and development partner Melissa Keane, with assistance from senior associate Huong Tran and associate Ha Le.
Corporate senior associate Hien Nguyen and associate Linh Nguyen also assisted in elements of the transaction.
Deal significance: According to an Allens’ statement, the acquisition is Mainstream’s first investment in solar power projects in Vietnam, bringing its renewable development pipeline in Vietnam alone to 2.3 gigawatts (11.8 GW gigawatts).
“We cannot be more excited to have supported Mainstream on this solar project collaboration,” added lead partner Ms Keane.
“This transaction reflects the increased foreign interest in acquiring renewable power projects in Vietnam, especially those projects which have already been approved for inclusion in Vietnam’s Power Development Plan.”
Source: lawyersweekly
