Acciona Energy buys nearly 50% of The Blue Circle and enters the emerging market in Southeast Asia

Acciona Energy has reached a strategic agreement with The Blue Circle, a developer of wind projects in Southeast Asia based in Singapore. The deal includes a investment of 34 million dollars to enter the company’s capital and a commitment of up to 113.5 million to finance investment in projects as they are ready to build. With this operation, the Spanish company acquires a participation close to 50% of the capital of The Blue Circle and becomes its main shareholder. Through this investment, it lands for the first time in the emerging market of Southeast Asia.

The founding partner and CEO of The Blue Circle, Olivier Duguet, and other minority shareholders will maintain a majority stake in the company, although Acciona Energía is the largest shareholder after the operation, and Duguet will continue as CEO. “We are extremely pleased to announce this partnership with a pioneer and world leader in renewable energy. The Blue Circle has also been a pioneer in wind energy in Vietnam since 2017 and has been developing projects in Southeast Asia since 2013, which ensures us a leadership position with 94,475 hectares of land already secured to develop renewable projects. Joining forces with Acciona Energia right at the tipping point of renewables deployment in the region will allow The Blue Circle to address the tremendous growth ahead,” said Duguet.


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