Nexif Ratch acquires 30 MW Vietnam hydropower plant

The Min Luong hydropower plant has a 20-year PPA with an EVN subsidiary.

Nexif Ratch Energy Investments completed the acquisition of the 30-megawatt Minh Luong run-of-river hydropower plant in Lao Cai province in Vietnam, from its developer Nam Tien Group.

In a statement, Nexif Ratch said the acquisition will support its portfolio expansion and provide a “stable and recurring income” through a long-term power purchase agreement (PPA).

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“The acquisition of the Minh Luong hydro plant further expands Nexif Ratch Energy’s operating portfolio in Vietnam. It builds upon our historically successful track record in small hydro in Vietnam and supplements our existing two operating/under-construction Song Giang hydro projects,” said Nexif Ratch Director and Interim CEO Matthew Bartley.

The power plant has been operating since April 2018. A subsidiary of Vietnamese state-owned electricity company EVN purchases the power generated by the plant through a 20-year PPA.