Japan’s Orix to invest in Vietnam's hydropower market: report
Japan’s leasing firm Orix will invest in Vietnam's Bitexco Power in mid-September as it seeks to tap growing electricity demand in the Southeast Asian country, Nikkei Asian Review reported on September 1.
The Japanese company will take an over 10% joint stake in Bitexco with Singapore's United Overseas Bank in a deal expected to be worth tens of millions of dollars, the website said.
In addition to gaining representation on the Vietnamese company's board, the partners will offer advice on business operations, it said.
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| Part of a hydropower plant invested by Bitexco |
Vietnam is on course to have an installed capacity of 75,000 MW by 2020, 46.8% of it from coal plants, 24% from gas plants and 19.6% from hydropower plants.
Renewables will make up 4.5% and nuclear power plants, 2.1%.
Bitexco has invested in 11 hydropower plants in Vietnam that have a combined generation capacity of nearly 700 megawatts, according to the company's website.
