Nexif Ratch Energy Acquires 30 MW Hydro Plant in Vietnam

Nexif Ratch Energy Investments Pte. Ltd. has successfully acquired the 30 MW Minh Luong run-of-river hydro power plant with peak hour storage in Lao Cai province, Vietnam.

Developed and constructed by Nam Tien Group, the plant has been operational since April 2018, with electricity generation sold to a subsidiary of EVN through a 20-year Power Purchase Agreement.

The acquisition strengthens Nexif Ratch Energy’s renewable energy portfolio and ensures a stable income through a long-term PPA. The company aims to optimize the Minh Luong hydro plant, building on its expertise in hydro operations.

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This acquisition follows Nexif Ratch Energy’s recent achievements, including the financial close and construction commencement of a 74 MWp solar farm in the Philippines, with anticipation of two additional projects starting in early 2024.

The move reflects the company’s commitment to expanding its renewable energy presence in Vietnam and leveraging hydro operation expertise for further growth in the region.

“This acquisition showcases our commitment to expanding our renewable energy presence in the vibrant Vietnamese market. As we continue to strengthen our portfolio, we remain focused on leveraging our hydro operation expertise to maximize the potential of this asset. We look forward to furthering our impact in the region and achieving additional milestones in coming years”, says Mr. Surender Singh, Chairman of Nexif Ratch Energy.