AC Energy bought a 25% stake and co-investment rights in the company.
The Philippines’ AC Energy acquired a 25% stake in Singapore-based wind project developer The Blue Circle as well as co-investment rights in TBC’s projects.
According to an announcement, AC Energy and TBC will jointly develop, construct, own and operate TBC’s pipeline of around 1,500MW of wind projects across Southeast Asia, including around 700MW in Vietnam.
The joint venture expects to start construction of around 200MW of wind farms in Vietnam in 2019. AC Energy will invest $100m in these projects.
TBC focuses on developing and investing in utility-scale wind projects in Southeast Asia with pipelines in Vietnam, Indonesia, Thailand, and Cambodia amongst others.
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