Denham Capital-backed Nexif Energy acquires majority stake in Viet Hydro Power

Visual of Nexif Energy website. February 2016.

Singapore-based Nexif Energy, a Southeast Asian independent power producer, has acquired a majority ownership of Viet Hydro Pte Ltd.

With this deal, Nexif also gains controlling interest in Viet Hydro’s 30 MW Coc San power project in Vietnam, marking the first project under the Nexif platform which was formed in August 2015.

Nexif Energy, formed with the backing of energy-focused private equity firm Denham Capital, acquired the shares of two existing shareholders and has subscribed to additional equity shares, resulting in its majority holding in Viet Hydro.

InfraCo Asia Development Pte Ltd, a Singapore-based infrastructure development company, is also a shareholder of Viet Hydro and retains its stake.

From 2010 to 2015, Nexif, as manager of InfraCo Asia, originated and developed infrastructure projects for InfraCo Asia through its subsidiary Nexif (InfraCo) Management Pte Ltd.

Coc San is a run-of-the-river 30 MW hydropower project located in the Dum River Valley, a tributary of the Hong (Red) River, about 300 km northwest of Hanoi. It is in advanced stages of construction and is expected to commence power generation by March 2016.

Surender Singh, founder and co-CEO of Nexif Energy, stated: “Hydroelectric power is one of the most economical sources of electrical energy in Vietnam. With its strong renewable hydro resources, liberalising power regulatory regime and stable political environment, Vietnam is a key investment destination and presents an attractive growth opportunity for Nexif Energy.”

According to co-founder and co-CEO Matthew Bartley, Nexif is currently reviewing other investment opportunities within Vietnam and around Southeast Asia that would build on the initial investment.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.