October 19 (SeeNews) - Germany-based solar projects developer and builder Habdank Group has bought a 50% stake in German ASEAN Power, a sector player focused on the Southeast Asia region.
Berlin-based consultancy Apricum – The Cleantech Advisory announced the news on Tuesday, without giving financial details about the deal. Before choosing Habdank as the stake buyer, Apricum conducted a “rigorous” investor search for German ASEAN Power.
Apart from acquiring the interest, Habdank has also provided additional funding instruments to back the future development of German ASEAN Power. The latter is currently developing a number of utility-scale solar projects with a combined capacity surpassing 150 MW in markets such as Thailand, the Philippines, Vietnam, Cambodia and Indonesia.
“Southeast Asia is one of the most promising growth regions for renewable energy and solar power in particular, and this was reflected in the high volume of interest we had from potential investors in this opportunity,” said Nikolai Dobrott, managing partner of Apricum.