Nexif Energy announced on December 16 it has acquired 94 per cent of equity in the Song Giang Hydropower JSC, the owner of two hydropower projects on the same river in south-central Khanh Hoa province totaling 49MW.

The two projects are the 37MW Song Giang 2, which has been operating since December 2014, and the under-construction 12MW Song Giang 1, which is expected to be completed in the second quarter of 2021.

Electricity demand in Vietnam is growing at 10-12 per cent annually, creating opportunities for investment in electricity generation, transmission, and distribution infrastructure. To attract investment to meet this growing need for power, the country has created a favorable regulatory environment for investment in renewable energy projects and is currently in the process of establishing a competitive electricity market.

Song Giang projects will produce sufficient energy to power 74,000 households 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 operations. It will also directly and indirectly contribute to the region’s economic development in other meaningful ways.

“This acquisition will significantly add to Nexif Energy’s portfolio of renewable energy projects in Vietnam and represents a step forward in its vision of delivering clean, reliable power to the country and the region,” said Mr. Surender Singh, Founder and Co-CEO of Nexif.

“Today’s announcement builds on our presence in Vietnam, with the Coc San Hydropower project in northern Lao Cai province and wind energy projects in Ben Tre and Soc Trang provinces in the Mekong Delta currently in the development stage. It will also add to our projects in Thailand and the Philippines in Asia and our rapidly expanding portfolio in Australia.”

“Nexif Energy welcomes the opportunity to develop this project and contribute to Vietnam’s rapidly-growing renewable energy sector,” said Mr. Matthew Bartley, Founder and Co-CEO of Nexif Energy. “This is an important step forward in achieving its objective of establishing itself as a leading power generation developer and investor in Asia and Australia. We look forward to acquiring and developing more projects in Vietnam and the rest of our target markets.”

“Denham Capital is committed to delivering low-cost, clean power at the place and time of need,” Mr. Saurabh Anand, Managing Director of Denham Capital, added. “This agreement represents a significant milestone in our plans to invest in a portfolio of more than 1,000MW of renewable and dispatchable generation projects in Asia and Australia by 2021.”

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$9.0 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

About Denham Capital

Denham Capital is a leading energy and resources-focused global private equity firm with more than $9.3 billion of invested and committed capital across nine fund vehicles and offices in London, Boston, Houston, São Paulo and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving international power, oil and gas, and mining, across the globe. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit