<article>Singapore-based InfraCo Asia, an infrastructure development and investment company of the Private Infrastructure Development Group, has exited its 36.4 per cent interest in Viet Hydro to Tokyo Electric Power (TEPCO).</article>

Singapore-based InfraCo Asia, an infrastructure development and investment company of the Private Infrastructure Development Group, has exited its 36.4 per cent interest in Viet Hydro to Tokyo Electric Power (TEPCO).
VietHydro is the majority shareholder of Lao Cai Renewable Energy, which owns and operates the $44.5 million Coc San Hydro Power project. It was the first foreign direct investment in hydro power in Vietnam’s northern mountainous province of Lao Cai. Now it has become TEPCO’s first overseas hydropower investment.
InfraCo Asia came on board when Coc San was a distressed asset and invested in the development and 
construction of the plant, which was successfully brought into operation in April 2016, the Singapore firm said in a statement.
Exiting the Coc San project supported the success of InfraCo Asia’s business model and allowed funds to be recycled into future infrastructure projects in South and Southeast Asia’s frontier markets, it added.
The plant generates over 120GWh per year of clean energy and has been implemented to stringent international standards.
InfraCo Asia CEO, Allard Nooy, said: “Selling our stake in the Coc San project allows InfraCo Asia to further catalyse infrastructure development in our mandated countries. By identifying and mitigating risks early on, we attracted private sector investment to a project that was once considered too risky. Importantly, Coc San facilitates a more reliable power supply for local communities, opening the door for new economic opportunities.”
InfraCo Asia’s first complete exit from a utility-scale renewable energy project occurred in September 2017, when it divested its stake in the Pakistan Metro and Gul Ahmed wind power projects.
Coc San is supported by a 20-year power purchase agreement with Northern Power Corporation, a power distributing subsidiary of state-owned Vietnam Electricity.
TEPCO aims to develop a total capacity of two to three million kilowatts of hydropower through pursuing the development of hydropower overseas and offshore wind power both in Japan and overseas, it said in a separate statement.
The Japanese company said it will continue exploring opportunities to participate in other hydropower projects, mainly in Southeast Asia.

Singapore-based InfraCo Asia, an infrastructure development and investment company of the Private Infrastructure Development Group, has exited its 36.4 per cent interest in Viet Hydro to Tokyo Electric Power (TEPCO).

InfraCo Asia divests 36.4% stake in Vietnamese hydel project to TEPCO

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InfraCo Asia divests 36.4% stake in Vietnamese hydel project to TEPCO

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