Japan’s Mitsubishi HC Capital Inc (TYO:8593) announced today that a subsidiary has completed the acquisition of a 35.1% stake in a 152-MW wind farm in Vietnam, thus entering the local market.
More specifically, Hitachi Sustainable Energy Ltd has purchased shares in Trung Nam Wind Power Joint Stock Company (TNWP), which holds the wind farm, for an undisclosed amount from renewable energy company Trung Nam Construction Investment Corporation (TNCI).
The wind power facility in question is located in Ninh Thuan province and consists of turbines supplied by Germany’s Enercon GmbH. TNWP is expected to generate some 432,000 MWh per year, enough to offset around 192,000 tonnes of carbon dioxide (CO2) emissions annually. The wind park has signed a 20-year power purchase agreement (PPA) with state-owned utility EVN.
Hitachi Sustainable Energy and TNCI intend to partner up in the future development of new wind projects, according to the announcement.