August 29, 2023
Hunton Andrew Kurth’s Bangkok office advised Constant Energy Singapore Holding Pte. Ltd. (“Constant Energy”) in relation to an equity investment by Virya Energy, an active sustainable energy developer based in Europe. The transaction consists of a combination of primary investment and secondary shares acquisition from Constant Energy and its shareholders, including Olympus Capital Asia. Following the closing of the transaction, Virya Energy became a major shareholder of Constant Energy.
The firm’s representation included representing Constant Energy in the extensive negotiations and documentation of this strategic investment and performing vendor due diligence on projects and assets throughout Southeast Asia, together with co-counsel in these jurisdictions. The share subscription agreement, the sale and purchase agreement, and the shareholders’ agreement were concluded in July 2023.
Constant Energy is a Singapore-based renewable electricity generation developer and platform provider owning high-quality power assets and owns and operates several solar commercial and industrial projects located in countries throughout Southeast Asia.
The Hunton Andrews Kurth team included energy and infrastructure partner Chumbhot Plangtrakul and senior associate Sudarat Sattayakawee. Associates providing assistance included Chartthai Sutthapas, Jitranut Narkmai and Thaphanut Vimolkej.