SBI Offshore acquires solar power assets

SBI Offshore acquires solar power assets

Singapore’s SBI Offshore has announced that it will acquire a 51% stake in four solar photovoltaic power plants and systems, and two operating companies from its German partner Gräss Group for S$13.97m ($10.12m).

The assets will be injected into Graess Energy, its 51% owned joint venture. SBI Offshore acquired the assets through cash payment and a new share issue.

The assets acquired are four solar PV power plants at various locations in Bulgaria and a 51% stake in Gräss Engineering and Gräss Maintenance.

Chan Lai Thong, executive chairman of SBI Offshore, said: “This acquisition will provide us the track record and capabilities to accelerate SBI Offshore’s foray into solar energy, and enable Graess Energy to tap strategic growth opportunities in Asia.”

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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