Apricum Secures New Investor Habdank for German ASEAN Power Highlighting Strong Interest in Southeast Asia’s Solar Potential
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. “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,” said Nikolai Dobrott, managing partner of Apricum. “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.”
The management team of German ASEAN Power, who founded the company in 2015, consists of solar project development specialists with more than a decade of experience and a solid track record in solar project development in emerging markets such as South Korea, China, India, El Salvador and Thailand. The company is currently developing several utility-scale solar power projects with a portfolio size of more than 150 MW in markets such as Thailand, the Philippines, Vietnam, Cambodia and Indonesia. “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,” said Roland Quast, co-founder and managing director of German ASEAN Power. “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.”
“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,” said Oliver Matthes, CEO of Habdank. “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.” Habdank Group’s investment in German ASEAN Power offers another example of the solar industry’s increasing interest in the promising Southeast Asian renewables markets. Apricum expects more than 10 GW of additional solar power capacity to be installed in ASEAN’s key markets alone by 2020.