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ib vogt and ACEN to set up 1,000 MW asset platform for solar in Asia

• New joint venture will develop large scale solar projects in the Asia Pacific region
• ACEN expects to invest up to US$ 200 million in equity investment in addition to debt
• 1,000 MW of renewables capacity at the minimum is set to be developed in the
coming years, with potential for further expansion

April 4, 2022 – ib vogt and ACEN have agreed to set up a platform to fund the construction and
operation of large-scale solar power plants throughout Asia, subject to applicable regulatory
approvals. The joint venture partners will focus on late-stage, shovel-ready projects in
Indonesia, Vietnam, Malaysia, Laos, Bangladesh, and other countries in the region.

The majority of projects will stem from ib vogt’s Asia development pipeline of more than 5,000
MW with initial projects planned to go into construction during 2022. The platform will also be
open to acquire late-stage projects from local and regional developers.

The venture targets a minimum operational capacity of 1,000 MW over the coming years with
the potential for further extension. Under the terms of the deal, ACEN expects to invest up to
US$ 200 million equity investment in addition to debt funding to accelerate the deployment of
renewable energy in Asia.

“We are enthusiastic to be working with ACEN and are convinced that the combination of the
unique skillsets and strengths of both parties will accelerate our ability to impact on the transition
to clean, sustainable energy in Asia. This platform will complement our global strategy of
developing a diversified portfolio of high quality IPP assets,” said Anton Milner, CEO of ib vogt.

“ACEN has a strong history of partnering with best-in-class energy developers to build
renewable energy projects across the Asia Pacific region. ib vogt has a proven track record of
developing solar projects across Europe, Asia, and North Africa, and we are very excited to
partner with ib vogt as we set up a platform to continue building out our presence across the
region together,” said Patrice Clausse, President and COO of ACEN International.