A view of Bac Ha hydro power project in Lao Cai province. (Photo: laocai.gov.vn)
Singapore-based Nexif Energy, a Southeast Asian independent power producer, has announced it has acquired a controlling stake in 30-megawatt (MW) Coc San hydro power project in northern Vietnam through the acquisition of a majority ownership of Viet Hydro Pte Ltd.
Nexif Energy, formed with the backing of energy-focused private equity firm Denham Capital, acquired the shares of two existing shareholders and has subscribed to additional equity shares, resulting in it holding a majority stake in Viet Hydro.
InfraCo Asia Development Pte Ltd, a commercially managed infrastructure development company headquartered in Singapore, is also a shareholder of Viet Hydro and has retained its stake.
Coc San is a run-of-the-river hydro power project located in Lao Cai
province. The project is in an advanced stage of construction and expected to commence electricity generation by March 2016.