Singapore IPP Nexif Energy ups stake in Viet Hydro

Singapore IPP Nexif Energy ups stake in Viet Hydro

Figures have not been disclosed yet, but Viet Hydro eyes using the proceeds
to boost shareholding in another project.

Nexif Energy, a Southeast Asian independent power producer, announced that
it has entered into an agreement to subscribe additional equity in Viet
Hydro. The proceeds will be used by Viet Hydro to further consolidate its
holdings in the Coc San project.

"Nexif Energy is pleased to increase its commitment to the Coc San project,
which recently completed construction and commenced operation," said
Surender Singh, Founder and Co-Chief Executive Officer of Nexif Energy. "We
also look forward to making more investments in Vietnam's power sector."

Coc San is a run-of-the-river 30 megawatt hydro power project located in the
Dum River Valley, a tributary of the Hong (Red) River. It is approximately
300 kilometres northwest of Hanoi in the Lao Cai province.

"The Coc San project is regarded as a model hydro project for environmental
and social compliance by multilateral organizations, local government and
communities, and Viet Hydro is thankful for the cooperation extended by the
government, employees and contractors that resulted in the successful
implementation of the project," said Srinivas Rao, Chairman of Viet Hydro
and Executive Vice President, Projects and Operation of Nexif Energy.

Nexif Energy will subscribe to additional shares in Viet Hydro. Viet Hydro
will use the proceeds to acquire the remaining holdings in the project of
Colben Energy Holdings (Vietnam) Limited, and HVD Construction and
Investment Consultant JSC, which will increase Viet Hydro's shareholding in
the project to 92 percent. InfraCo Asia Development Pte Ltd will retain its
minority interest in Viet Hydro.

"Vietnam is a key target market for Nexif Energy. Further investment into
Coc San is a testament of our commitment to the country. We aim to become a
leading independent power generation company in Vietnam and are currently
evaluating a number of additional promising investment opportunities there,"
added Enamul Latifi, EVP of Business Development, Nexif Energy.

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Link to Original Article:
http://asian-power.com/ipp/news/singapore-ipp-nexif-energy-ups-stake-in-viet
-hydro

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com