In December 2019, Nexif Energy acquired 94% of the equity of the Song Giang Hydropower JSC, a company that owns two run-of-river hydropower projects in cascade on the same river totalling 49MW in the Khanh Hoa province of Vietnam. The two projects are the 37 MW Song Giang 2 which has been operating since December 2014 and the under construction 12 MW Song Giang 1 that is expected to be complete in 2022.

The Song Giang hydropower project will produce enough energy to power 74,000 households of Vietnam and will offset approximately 110,000 tonnes of carbon emissions annually. It will also directly create 250 jobs during the construction of Song Giang 1 and will sustain 50 long term jobs during operation. It will also directly and indirectly contribute to the economic development of the region in other meaningful ways.

The projects will be constructed and upgraded to meet international quality standards and to comply with the World Bank’s environmental and social standards.