Nexif Energy receives approval to build 80 MW wind power project in Vietnam

Nexif Energy, an independent power producer in Asia and Australia obtained an approval to develop, construct and operate an 80 MW wind power project in Ben Tre province, Vietnam. Nexif Energy currently has a majority ownership in the 30 MW Coc San hydro power project in the northern Vietnam province of Lao Cai and has over 500 MW in renewable energy projects across Vietnam in its pipeline which it is working to complete within the next three years.

“We are pleased to make progress on implementing our plans for a world class, environmentally responsible, economically viable renewable energy portfolio in Vietnam through advancing the development of our pipeline of several hydro, wind and solar projects” said Surender Singh, a Founder and Co-Chief Executive Officer of Nexif Energy.

The Ben Tre province People’s Committee has formally approved Nexif Energy’s application to develop an 80 MW wind power project in Thanh Hai commune of the Thanh Phu district. The project is proposed to be developed in 3 phases for a total investment of US$ 160 million and when completed fully, is expected to generate 250 GWh of clean energy annually that can power more than 50,000 homes. The first 30 MW phase of the project is expected to commence operations by 2020.

“Nexif Energy welcomes the opportunity to develop this project and contribute to Vietnam’s rapidly growing renewable energy sector. This is an important step forward in achieving Nexif Energy’s objective of establishing itself as a leading power generation investor in Vietnam and in the region. We look forward to developing and investing in many more projects in Vietnam and the Mekong Delta”, added Matthew Bartley, a Founder and Co-Chief Executive Officer of Nexif Energy.

Enamul Latifi, Executive Vice President, Development at Nexif Energy said “We are grateful to the Ben Tre Province People’s Committee for accepting Nexif Energy as a partner in unlocking the renewable energy potential of the province. Being located in an extremely disadvantaged area, the project will bring in economic and social development to the local community, in addition to delivering clean energy. Nexif Energy is developing a significant portfolio of renewable energy projects in Vietnam of which this project in Ben Tre will be a key part,”.

In November 2017, Nexif Energy reached financial close on the first phase of its 212MW Lincoln Gap wind farm in Australia. The first phase comprises 35 wind turbine generators of 126MW aggregate capacity and includes a 10MW grid scale battery.

About Nexif Energy

Nexif Energy was formed in August 2015 by Nexif, a Singapore-based independent power management company, and Denham Capital, a leading global energy-focused private equity firm with more than US$9.3 billion of invested and committed capital across eight fund vehicles. Nexif Energy’s goal is to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets across Asia and Australia.