The reasons for Vietnam’s glacial paced merger & acquisition (M&A) activity are many and rooted in multiple areas, including lengthy barriers and hurdles to development (read further details in this article), which naturally impact a project’s potential for acquisition. These include:
Table 1: Examples of key M&A activities in the Vietnamese solar power landscape
Looking ahead, we can expect solar M&A activity to start gathering steam in the coming months, with investors beginning to assess risks from other perspectives instead of only focusing on the model PPA bankability concerns. This is because:
For these reasons, the M&A market for solar projects in Vietnam offers many opportunities, but time is of the essence to secure the best projects now coming online.
Moritz Sticher is senior advisor, Vietnam, for Apricum – The Cleantech Advisory, a Berlin-based, globally active transaction advisory and strategy consulting firm specialized in the cleantech and renewable energy space. An experienced international solar project developer with expertise in realizing all aspects of C&I and utility-scale solar projects – from strategy and business plan development through to EPC, O&M, and project financing, Moritz joined the team this year. He has significant knowledge and experience in Southeast Asian markets, particularly in Thailand, Vietnam, Cambodia, Indonesia, Singapore, and the Philippines.
The views and opinions expressed in this article are the author’s own, and do not necessarily reflect those held by pv magazine.
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