Baker McKenzie acted as legal advisor to Nexif Ratch Energy SE Asia Pte. Ltd. (a joint venture company owned by Nexif Energy of Singapore and Ratch Group of Thailand) ("Nexif Ratch Energy") on the acquisition of 100% of the shares in Minh Luong Energy Development Joint Stock Company, together with its 30 megawatt Minh Luong hydropower project located in Van Ban district, Lao Cai province, Vietnam. This Minh Luong Project has been in commercial operation since April 2018 and has played an important role in ensuring the electricity security in Lao Cai province specifically and the Northern Vietnam area generally. The acquisition contributes to strengthening the Nexif Ratch Energy portfolio’s growth path in renewables in Vietnam as well as in the Asia Pacific region.

Baker McKenzie advised Nexif Ratch Energy on all aspects of the transaction, from due diligence and structuring advice, to drafting, negotiating and completing the transaction documents to reach a successful closing. The Baker McKenzie team was led by Projects & Energy Partner Thanh Hai NGUYEN and Associate Yen Ly LE, with support from other team members, including: Hoang Anh VU and Thu Hien NGUYEN.

Mr. Matthew Bartley, director and former interim CEO of Nexif Ratch Energy said, "The acquisition of the plant further expands Nexif Ratch Energy's operating portfolio in Vietnam. It builds upon our historically successful track record in small hydro in Vietnam and supplements our existing two operating/under-construction Song Giang hydro projects. With our expertise in hydro operations, we are confident in optimising this asset to create a robust income stream for Nexif Ratch Energy."

Mr. Sakarin Tangkavachiranon, director of Nexif Ratch Energy added, "We are excited to achieve the first acquisition of a project under the Nexif Ratch Energy platform. This marks another success in 2023 after our recent achievement of financial close and construction commencement of a 74 MWp solar farm in the Philippines. We are anticipating two additional projects to come into operation or commence construction in early 2024."

Further, Mr. Kenny Kee, associate director of Nexif Ratch Energy also commented, “The Baker McKenzie team has been most helpful and has provided much insightful assessment on the complex legal matters in this deal. The Baker McKenzie team has certainly facilitated the successful closing of this deal.”

Baker McKenzie is at the forefront of market-leading deals in the energy sector. Our team helps energy producers, investors and users forge their energy transition journey in an increasingly complex regulatory environment, enabling them to transform, powerfully.

This deal adds to Baker McKenzie's proven track record in advising on numerous transactions in the energy sector in Vietnam.
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