Nexif Energy, a Southeast Asian independent power producer, announced that it has taken controlling interest in the 30 megawatt (MW) Coc San hydropower project in Vietnam through the acquisition of a majority ownership of Viet Hydro Pte Ltd. This transaction marks the first project under the Nexif Energy platform formed in August 2015.
Coc San is a run-of-the-river 30 MW hydropower project located in the Dum River Valley, a tributary of the Hong (Red) River, about 300 kilometres northwest of Hanoi in Lao Cai province. The project is in an advanced stage of construction and expected to commence electricity generation by March 2016.
Nexif Energy, formed with the backing of leading global 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.