Nexif Energy, a Singapore based SJE Group investment, has acquired 94% of the equity of the Song Giang Hydropower JSC in the Khanh Hoa province of Vietnam.
Electricity demand in Vietnam is growing 10-12% each year.
The Song Giang hydropower project will produce enough energy to power 74,000 households of Vietnam 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 operation. It will also directly and indirectly contribute to the economic development of the region in other meaningful ways.
This acquisition will significantly add to Nexif's portfolio of renewable energy project in Vietnam and represents a step forward towards its vision of delivering clean, reliable power to Vietnam and the region.
The SJE Group congratulates Surender Singh and Matthew Bartley (Nexif Founders and Co-CEOs), and the rest of the Nexif team.