Tokyo Electric Power Company Holdings (TEPCO) has acquired 36.38 percent of the shares in Viet Hydro (Viet Hydro), the majority shareholder of Lao Cai Renewable Energy Joint Stock Company (Lao Cai Renewable Energy), from InfraCo Asia Development (InfraCo Asia), a company of the Private Infrastructure Development Group (PIDG), so it can participate in the Coc San Hydropower Plant. The hydropower plant has a total output of 29.7 megawatts in Lao Cai Province, Vietnam.
The purchase comes after TEPCO’s recent attempt to turn renewable energy into its primary energy source to increase the corporate value for the company. In doing so, the company is also pursuing hydropower overseas and offshore wind power both in Japan and overseas.
Coc San Hydropower Plant has been operating stably since launching commercial operations in April 2016, supported by a 20-year power purchase agreement with Northern Power Corporation, a power distributing subsidiary of Vietnam Electricity. Going forward, TEPCO expects to leverage its knowhow and experience from Japan to strengthen Coc San’s profitability through increased efficiency.
TEPCO will continue exploring opportunities to participate in other hydropower projects, mainly in Southeast Asia, and develop its overseas business by partnering with companies in Japan and overseas.
