Mong Duong 2 is a 1.2 GW coal-fired power plant in northern Vietnam that was commissioned in 2015. It is a strategic supplier of electricity to Hanoi and the northern part of the country. Sev.en Global Investments is committed to operating the plant in accordance with the existing BOT (Build, Operate, Transfer) contract with the highest environmental and safety standards.

Alan Svoboda, CEO of Sev.en Global Investments, said of the transaction: "We are very pleased to announce this acquisition. After establishing our presence in Europe, North America, and Australia, we are now entering the 4th continent - Asia. As an experienced owner and operator of similar power plants we are proud to take over the operator role from AES. We appreciate the strong diplomatic and business ties between Vietnam and the Czech Republic and look forward to a cooperation including working together on satisfying all regulatory requirements. We also aspire to engage in more public-private deals like this one.”

Sev.en GI's primary goal is to ensure energy security while also foster the economic, safe, and reliable operation of the power plant and supporting the employees and local communities. Alan Svoboda added: “We are a strategic long-term investor with a wealth of expertise in the management of power generation and mining assets. We own and operate our assets with experienced local managers supported by our central team of technical and commodity experts. We always strive to share the knowledge across our whole portfolio. We were impressed by the local Mong Duong 2 management team as well as the excellent status of the plant. We will continue to maintain these high standards. “

Meeting at the Ministry of Industry and Trade of Vietnam

The acquisition is a significant milestone as it would be the largest Czech investment in Vietnam. This transaction further deepens the already close bilateral trade relations between the two countries. Hynek Kmoníček, Ambassador of Czech Republic to Vietnam, said of the transaction: "We welcome this by far the largest Czech strategic investment. It moves our country into the first league of foreign investors in Vietnam and broader Southeast Asia. I congratulate Sev.en and hope that successful closing of this transaction will attract further Czech investments into Vietnam."

Information source: Sev.en Global Investments