Investment in Vietnam Power Development Joint Stock Company, Vietnam
December 22, 2022
TEPCO Renewable Power, Inc.
TEPCO Renewable Power, Inc. (TEPCO RP) has acquired a 24.96% interest in Vietnam Power Development Joint Stock Company (hereinafter referred to as, “VNPD”), a hydroelectric power company in Vietnam, thereby making the company an affiliate. This is the second investment TEPCO RP has made in Vietnam following our investment in the Coc San hydropower project.
VNPD is a hydroelectric power generator established in 2002 and is currently listed on the Ho Chi Minh Stock exchange. It owns and operates three hydropower plants (Total output: 136.2MW).
In addition to providing a stable supply of electricity to meet the growing electricity demand in Vietnam, VNPD plans to develop new renewable energy sources, not only hydroelectric but also other renewable energies, in order to contribute to achieving the renewable energy development targets to be set in the next National Power Development Plan.
With TEPCO RP’s investment in Vietnam’s Coc San hydropower project in 2018, we have had the opportunity to repeatedly engage in discussions with local personnel and build a strong relationship of trust that transcends national borders and cultures. As a result, we have succeeded in increasing the value of the Coc San hydropower plant.
With this new investment, TEPCO RP shall use the O&M* expertise it has cultivated over many years in Japan’s hydroelectric power industry as a foundation upon which to work with VNPD to increase the value of its existing hydroelectric power plants.
TEPCO RP will continue to proactively push forward with the development of renewable energies while building partnerships with both domestic and overseas business operators. And through these initiatives, we shall contribute to the creation of a clean and sustainable carbon neutral society that can maximize the gifts of nature.
*Operation and Maintenance. Refers to operating and maintaining power stations.