Clifford Chance

Clifford Chance advises GreenYellow on sale of significant minority interest in C&I renewables platform in South East Asia

Global law firm Clifford Chance has advised renewable energy company GreenYellow, a portfolio company of Ardian, on the sale of a significant minority interest in an important Commercial and Industrial (C&I) asset platform, which operates in Thailand and Vietnam, to development finance institutions STOA and DEG (Deutsche Investitions- und Entwicklungsgesellschaft).

Headquartered in France and with operations in 17 countries, GreenYellow is a leading energy transition company, with expertise in decentralised photovoltaics production, energy efficiency projects and battery storage assets. In Asia, GreenYellow is a leading solar energy PPA (Power Purchase Agreement) provider in Thailand and Vietnam, catering to all industries.

Lead partner Melissa Ng said, "This transaction represents the keen investor interest and activity in renewables in South East Asia. There has been a marked increase in investments in renewable energy across the region, as countries balance the need to bridge critical gaps needed to reach energy transition goals with securing economic growth and energy security."

Melissa Ng was supported by senior associate Wesley Tan and associate John Wu on the corporate M&A aspects of this transaction. Counsel Dayu Man and associate Nan Lan provided additional advice on antitrust aspects.

Clifford Chance regularly advises on the most significant renewable energy transactions in South East Asia, having advised Barito Renewables on its acquisition of five wind assets in Indonesia, Blackrock on its investment in Ditrolic Energy to develop solar assets and AGP on Stonepeak's investment in its sustainable real assets portfolio.