HomeWorld RegionsAsiaNexif Energy buys Vietnam hydropower plant

Nexif Energy buys Vietnam hydropower plant

Southeast Asian independent power producer Nexif Energy has taken a controlling stake in a hydropower plant being built in Vietnam.

Coc San is a run-of-river 30 MW plant located in the Dum River Valley about 300 km northwest of Hanoi. It is almost complete and expected to start generating electricity next month.

The controlling stake comes via Nexif’s acquisition of a majority ownership of Viet Hydro Pte.

Nexif Energy was formed in August last year by Nexif, a Singapore-based independent power management company, and private equity firm Denham Capital.

Founder and co-chief executive Surender Singh said hydropower “is one of the most economical sources of electrical energy in Vietnam”.

“With its strong renewable hydro resources, liberalizing power regulatory regime and stable political environment, Vietnam is a key investment destination and presents an attractive growth opportunity for Nexif Energy.”

Co-chief executive Matthew Bartley added that the company is committed to “becoming a leading regional independent power generation company and are currently reviewing other investment opportunities in the country, as well as the Southeast Asia region that would build on this initial investment”.