German ASEAN Power has sold 50% of its company shares to new strategic investor Habdank Group, turnkey PV power plant construction specialists. Habdank was selected after a rigorous investor search conducted by Apricum – The Cleantech Advisory, the Berlin-based transaction and strategy advisory firm specialized in clean technologies.
The deal also includes additional funding instruments to support the future development of German ASEAN Power as a leading integrated utility-scale solar power solutions provider solely focused on the Southeast Asian region.
Apricum The Cleantech Advisory, acted as financial for ASEAN Power.
Nikolai Dobrott, managing partner of Apricum, said:
“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. German ASEAN Power has built a strong position in these relatively new markets, which enables them to benefit from the upcoming announced solar capacity additions.”
Roland Quast, co-founder and managing director of German ASEAN Power said:
“It was our aim to find a strategic partner who could not only provide additional funding for our current and future pipeline of projects in Southeast Asia, but who could help us expand our internal capabilities from project development to become a fully integrated solar power company with first-rate EPC and O&M services. From the many prospective strategic partners with whom Apricum facilitated very promising negotiations, in Habdank we found a partner who shares our corporate strategic objective, our emphasis on being an ASEAN organization, and our determination to offer our customers reliable, high-quality solutions.”
Oliver Matthes, CEO of Habdank, said:
“With our strategic investment in German ASEAN Power, we are further increasing our international activities in the solar growth markets of today and the future, After our very successful market entry in Turkey last year, we feel confident that we can bring a lot of valuable experience – especially in the areas of constructing high-quality solar power plants – from this emerging solar market to German ASEAN Power’s projects and customers in Southeast Asia.”