Prague, Czech Republic, 13. August July 2024 Sev.en Global Investments has announced the acquisition of an additional 19 percent stake in a Mong Duong 2 power plant in Vietnam from China Investment Corporation. Following the already agreed acquisition of a 51 percent stake in November last year, Sev.en GI will acquire a total of 70 percent of the Vietnamese coal-fired facility. Both transactions together are subject to approval by local authorities.
Alan Svoboda, CEO of Sev.en Global Investments: “We are thrilled to have finalized this agreement with our Chinese partners, which allows us to take a significant step towards a stronger mandate of ownership of the key power plant supplying electricity to the Hanoi metropolitan area. With the necessary approvals from local authorities, we are on track to complete the acquisition and become the largest European investor in Vietnam’s energy sector.”
Mong Duong 2 is a 1.2 GW coal-fired power plant in northern Vietnam that was commissioned in 2015. It is a strategic supplier of electricity to Hanoi and the northern part of the country. Sev.en Global Investments is committed to operating the plant following the existing BOT (Build, Operate, Transfer) contract with the highest environmental and safety standards. Leveraging its significant international experience and extensive technical capabilities in the operation and development of energy sources, the company is committed to driving sustainable growth. This acquisition deepens Czech-Vietnamese relations, highlighting the strong partnership between the two countries. Notably, this acquisition is on the track to be the largest coming from the Czech Republic.
Alan Svoboda, CEO of Sev.en Global Investments: „In partnership with the skilled leadership of Mong Duong 2, our commitment remains unwavering in ensuring the smooth, safe, and reliable operations of the power plant, and supporting the employees and local communities. We are committed to driving sustainable growth in the energy sector.”
By expanding its presence in Southeast Asia, Sev.en GI is demonstrating its appetite for further investments in the region and aspires to engage in more public-private sector cooperations.