Foreign investors acquire 36 percent stake in Vietnam’s power firm
As Vietnam works to promote renewable energy, its power sector is becoming increasingly attractive to foreign investors. In the latest deal, the International Finance Corporation, a member of the World Bank Group, has bought a 16 percent stake in Gia Lai Electricity JSC, a major hydropower developer, news website Dau Tu reported on 28 June. Singapore’s Armstrong South East Asia Clean Energy Fund has bought a 20 percent stake in the company, which has invested in 15 hydropower plants with a total output of 84 MW in the central region, it said.
