(RTTNews) - Energy company AES Corp. (AES) announced Thursday 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.
Following approvals by the Government of Vietnam and the Ministry of Industry and Trade, the anticipated close for the transaction is in line with AES' intent to exit the majority of its coal assets by the end of 2025.
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).
Based in Czech Republic, Se.ven is a family-owned company with expertise developing and operating conventional power plants and mining assets around the world.
