Tokyo Electric makes 1st overseas hydro power investment in Vietnam
HANOI, NNA – Tokyo Electric Power Company Holdings Inc., Japan’s largest utility, is entering the business of hydro power generation in Vietnam, its first overseas investment in hydroelectricity. The move is part of Tepco’s effort to shift from nuclear power and fossil fuels to meet growing demand for renewable energy.
The company said it had acquired a 36.38-percent stake in Singapore-based Viet Hydro Pte. Ltd. from InfraCo Asia Development Pte. Ltd. Viet Hydro operates the Coc San hydro power plant in the northern province of Lao Cai. The remaining 63.62-percent share is owned by Nexif Energy Management Pte., an independent power producer in Asia.
In 2016, the 29,700-kilowatt power station began supplying electricity to the state-owned utility Northern Power Corp. under a 20-year contract.