Singapore-based Nexif Energy has bought a 94% stake in Song Giang Hydropower. a company that owns two hydropower projects in Vietnam.
They include the 37MW Song Giang 2 project. which has been operating since December 2014 and the 12MW Song Giang 1. which is under construction and expected to be completed in the second quarter os 2021.
The projects. located in the Khanh Hoa province with a total capacity of 49MW. will provide enough electricity to power 74.000 households and offset 110.000 tonnes of carbon emissions a year.
The construction of Song Giang 1 is expected to directly create 250 jobs during construction.
Matthew Bartley. Founder and Co-Chief Executive Officer of Nexif Energy said: Nexif Energy welcomes the opportunity to develop this project and contribute to Vietnam’s rapidly growing renewable energy sector.
This is an important step forward in achieving Nexif Energy’s objective of establishing itself as a leading power generation developer and investor in Asia and Australia. We look forward to acquiring and developing more projects in Vietnam and rest of our target markets.