The International Finance Corporation (IFC), a member of the World Bank Group, and Singapore-based renewable energy-dedicated private equity fund Armstrong S.E. Clean Energy Fund, are making an investment into Vietnam’s Gia Lai Electricity Joint Stock Company (GEC).
Financial terms were not disclosed. However, IFC said it will take 16 per cent in the Vietnamese hydropower firm, while Armstrong will hold 20 per cent stake following the investment.
