The wind power project has the total investment of VND3,680 million (roughly US$160 million). The project, when completed, is expected to generate 250GWh of clean electricity output per year which is enough to supply power to more than 50,000 households.
The project will be divided into three phases. The first phase, with a capacity of 30MW, is expected to start generating electricity by 2020. The second phase will be started in the fourth quarter of 2020 and the third phase is scheduled to operate in the third quarter of 2022.
Matthew Matchley, co-CEO and Founder of Nexif Energy noted, “This is an important step towards achieving Nexif Energy's goal of becoming a leading investor in the power sector in Vietnam and the regional area. We would like to develop and invest in more projects in Vietnam."
Currently, Nexif Energy is the major shareholder of the Coc San Hydropower Project. It is a 30 MW hydropower project located in the Dum River Valley, a tributary of the Hong (Red) River, about 300 kilometers northwest of Hanoi in Lao Cai province.
Nexif Energy was established in August 2015 through a partnership between Nexif, a Singapore-headquartered independent developer and manager of power and infrastructure projects in South and South East Asia, and Denham Capital, a leading energy and resources-focused global private equity firm with over US$8.4 billion invested or committed.
Nexif Energy’s goal is to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets across Southeast Asia and Australia.