Czech Sev.en GI agrees to buy AES's 51% stake in Vietnamese power plant

AES

30/11/2023 11:30

PRAGUE, Nov 30 (Reuters) - Czech privately-held Sev.en
Global Investments will buy a majority stake in a large
coal-fired plant in Vietnam from U.S. energy firm AES Corp
 AES.N , Sev.En said on Thursday.
    The purchase of 51% of the 1.2 gigawatt Mong Duong 2 will
help AES's plan to divest its coal assets and will mark Sev.en's
first expansion into Asia, making it a major foreign investor in
Vietnam.
    "After establishing our presence in Europe, North America,
and Australia, we are now entering the 4th continent - Asia,"
Sev.en Chief Executive Alan Svoboda said in a press release.
    "As an experienced owner and operator of similar power
plants we are proud to take over the operator role from AES." 
    The price of the deal was not revealed. 

 (Reporting by Jan Lopatka; Editing by Sharon Singleton)
 ((jan.lopatka@thomsonreuters.com; +420 234 721 614; Reuters
Messaging: jan.lopatka.thomsonreuters.com@reuters.net))