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ACCIONA Energía and The Blue Circle partner to drive growth in Southeast Asia
15 de September de 2022

ACCIONA Energía, the world’s largest 100% renewable power company with no fossil legacy, has agreed to enter into a strategic partnership with The Blue Circle, a Singapore-based leading developer of wind projects in the Southeast Asia region. The transaction includes a US$34 million investment to enter the capital of The Blue Circle and a commitment of up to US$113.5 million to finance capex of projects that reach ready-to-build status.

Through this transaction, ACCIONA Energía acquires a close-to 50% stake in The Blue Circle and becomes its largest individual shareholder. Thanks to this investment, ACCIONA Energía will develop, build and operate projects in Southeast Asia for the first time.

The Blue Circle has an installed operational capacity of 84MW in Vietnam –in which it maintains 50% voting stake–, and +1.4GW at an advanced stage of development. The total portfolio under development amounts to 3.8GW in Vietnam, Thailand, the Philippines, Cambodia, Indonesia, Laos and Sri Lanka.

“We are extremely pleased to announce this strategic partnership with a pioneer and leader of renewable energy in the world. The Blue Circle has itself been a pioneer of wind power in Vietnam since 2017, developing projects in Southeast Asia since 2013, establishing early leading positions in many relevant Southeast Asia countries with a secured landbank of 94,475 hectares as of today. Joining forces with ACCIONA Energía at the inflection point of renewables penetration in the region will enable The Blue Circle to tackle the tremendous growth expected in the coming years”, stated Olivier Duguet, Chairman and CEO of The Blue Circle.

“Following ACCIONA Energía´s investments in Australia, we are eager to join The Blue Circle to enter the renewable energy markets of Southeast Asia. This opens a new growth opportunity for us with an experienced leader in the region and I am excited by the synergies between The Blue Circle and ACCIONA Energía that this transaction will enable” said Rafael Mateo, CEO of ACCIONA Energía.

The founding partner and Chairman, Olivier Duguet, and other minority shareholders, will continue to hold a majority stake in The Blue Circle. Olivier Duguet will continue in his role as CEO of the company.

Founded in 2013, The Blue Circle identifies, develops, finances, and operates renewable energy projects, mainly wind energy. It has offices in Singapore, Ho Chi Minh City (Vietnam), Bangkok (Thailand), Phnom Penh (Cambodia), and Manila (Philippines).

ACCIONA Energía’s entry as a partner strengthens The Blue Circle’s access to financing to execute projects under development and contributes, with expertise and track record in renewable technologies, to accelerate The Blue Circle´s growth.

ACCIONA Energía is the world’s largest 100% renewable and fossil-free energy operator. It has an operational project portfolio of 11.2GW in 16 countries across five continents. The company is part of the ACCIONA Group, a leader in transport, construction, and water infrastructure, which already operates in the Asia-Pacific region, mainly in the Philippines.

The investment in The Blue Circle represents ACCIONA Energía’s entry into several countries of the Asia-Pacific region that offer attractive growth prospects for the renewable energy sector.

With this transaction, ACCIONA Energía expands its portfolio of projects under development and its geographic diversification, advancing in its growth plans to reach 20GW of installed capacity by 2025 and securing long-term growth in new countries with high potential for it.

Astris Finance and Asia Counsel acted respectively as Financial Advisor and Legal Counsel to The Blue Circle, and Baker McKenzie as Legal Counsel to ACCIONA Energía.

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For any further information you can visit the Privacy Police on the website.

 

DATA PROTECTION INFORMATION

In compliance with Regulation (EU) 2016/679 on Data Protection and with other Data Protection regulations in force, you are hereby informed that your personal data shall be processed by Corporación Acciona Energías Renovables, S.A., whose identification data are as follows: Tax ID No. (NIF): A-85483311, Address: Avenida de la Gran Vía de Hortaleza, 1, 28033 Madrid, Tel.+34 91 657 64 61. Your data shall be processed in order to address and manage your queries, requests, claims and suggestions, as well as send information, regarding our products and services through electronic means (all of these, hereinafter the “Request”).

The consent given by the data subject by indicating that they have read and accept this data protection information comprises the lawfulness of processing, and if a contract had been entered into with the interested party, legitimation shall be for the compliance of legal obligations derived from the aforementioned contract and for the enforcement thereof. We will only process the essential data that you provide in your application, such as your identification data (name, surname, language, contact details) and data related to the business area of your interest. The data shall be stored only for the time to attend and answer your Request, and in any case, never for more than twelve months.

In case your Request is related to other ACCIONA solutions or businesses, we may communicate your personal data to another entity of the Group (you can consult a list of ACCIONA Group companies at www.acciona.com/shareholders-investors/financial-information/annual-accounts/), in order to be able to deal with your Request in a more efficient way. We also may give access to your data to service providers (such as technology service providers) who assist us in fulfilling this purpose. Some of its service providers, may be located outside of the European Economic Area in territories that do not offer a level of data protection that is comparable to that of the European Union. In such cases, we transfer User data with appropriate safeguards and always ensuring the security of the same. By accepting the privacy terms, you consent to your data being transferred internationally in order for your Request to be properly processed.

The data subject can exercise their rights of access to or rectification, erasure or portability of their data, and/or the restriction of or objection to the processing of such data, by contacting to Corporación Acciona Energías Renovables, S.L., by writing the Department of Data Protection located at Avenida de la Gran Vía de Hortaleza, 3 28033 (Madrid), or by sending  the form available at

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If we consider it necessary in order to be able to identify you, we may ask you for a copy of an identity document. Furthermore, at any time the data subject may withdraw the granted consent by contacting the aforementioned address and file a claim to the Supervisory Authority (Agencia Española de Protección de Datos www.aepd.es).

 

For any further information you can visit the Privacy Police on the website.