AES Announces Sale of Mong Duong 2 Plant in Vietnam in Next Decarbonization Milestone
ARLINGTON, Va., Nov. 30, 2023 /PRNewswire/ -- The AES Corporation (NYSE: AES) announced it has reached an agreement with Se.ven Global Investments to sell its 51% equity stake in the Mong Duong 2 coal-fired plant in Vietnam.
- ARLINGTON, Va., Nov. 30, 2023 /PRNewswire/ -- The AES Corporation (NYSE: AES) announced it has reached an agreement with Se.ven Global Investments to sell its 51% equity stake in the Mong Duong 2 coal-fired plant in Vietnam.
- The 1,242 MW plant has been in operation since 2015, delivering power to Hanoi and northern Vietnam under a 25-year Power Purchase Agreement (PPA) with state-owned utility Vietnam Electricity (EVN).
- "AES values its strong business relationship with Vietnam, where we have been a strategic partner delivering reliable power while supporting Vietnam's long-term energy transition goals," said Juan Ignacio Rubiolo, AES EVP and President, Energy Infrastructure.
- "This sale would advance AES' low-carbon goals while enabling AES to continue to play a role advancing diverse energy solutions to meet the growing electricity demand in the country."