Sunflower electric power corporation

Coro and the shareholders of KIMY Trading and Service JSC have entered into an exclusivity period for three months as Coro explores the potential to scoop up a 100 per cent interest in a leased rooftop solar portfolio across four locations close to Ho Chi Minh City. The leased rooftop solar portfolio has been in operation for two years and is covered by a power purchase agreement with a remaining duration of eighteen years with the state-owned Electricity of Vietnam as the power off-taker. The value of the proposed acquisition is estimated to reach $1.7 million, or $548 per MW. This will be paid by the assumption of $1 million of existing specialist renewables debt with a Vietnamese bank by Coro as well as $200,000 payable on completion of any acquisition in new ordinary shares in the company – locked in for 18 months from completion. The transaction is also covered with $250,000 in cash on completion and a further $250,000 in cash in six equal monthly instalments from … [Read more...] about Coro Energy negotiating to purchase 3.25MW portfolio of leased rooftop solar in Vietnam

Last week, Masataka Yoshida, CEO of RECOF Vietnam Co., Ltd., pointed out that Japanese companies are still trying to ink strategic deals with Vietnamese companies. “Over the past 5-6 years, Vietnam has been ranked second among M&A destinations for Japanese investors in Southeast Asia, behind Singapore. In terms of the number of transactions, there are many deals that are not yet announced, so it is very difficult to compare. However, the size of Japanese deals in Vietnam has become bigger than that of 5-6 years ago.” Mergers have been muted in 2022 but some Asian groups are still keen, Photo: Shutterstock Looking at recent moves, Cool Japan Fund has chosen to contribute around $10 million to 4P Holdings, the company that owns and operates a popular network of 4P’s pizza restaurants. The move is part of the fund’s strategies to tap into Vietnam’s lucrative food and beverage market. Meanwhile, Japanese gas distributor Toho Gas has signed a strategic investment … [Read more...] about Asian investors still on lookout for deals

Marubeni to foster investment in green energy projects in Vietnam The company has signed a memorandum of understanding (MoU) on mutual collaboration with EVN to develop its green energy projects. The two parties will jointly study a wide range of decarbonisation projects, including the carbon emission reduction of existing thermal power plants in Vietnam and the development of renewable energy and sustainable green energy such as biomass, ammonia, and hydrogen. Marubeni is the first company to sign an MOU with EVN focusing on decarbonisation. Together, the two companies will work to achieve decarbonisation in Vietnam’s power sector. Marubeni is the first company to sign an MOU with EVN focusing on decarbonisation. Together, the two companies will work to achieve decarbonisation in Vietnam’s power sector. The Vietnam Government set the goal of achieving net zero greenhouse gas emissions by 2050. In addition, Marubeni has established the Marubeni Long-Term Vision … [Read more...] about Marubeni to foster investment in green energy projects

According to the Ministry of Planning and Investment's Foreign Investment Agency, Vietnam counted total foreign direct investment (FDI) inflows of about $25.1 billion in the first 11 months of the year, equivalent to 95 per cent of the previous year's total. Of this, $11.5 billion was poured into 1,812 newly licensed projects, up 14.9 per cent on the number of projects last year but a sharp reduction of 18 per cent in value. Another $9.54 billion was added to 994 projects currently underway, a rise of 23.3 per cent in value and 13.3 per cent in quantity. Overseas investors also poured almost $4.08 billion into around 3,298 share purchase deals, a slight down of 7 per cent over the same period last year. FDI disbursement climbed well by 15.1 per cent on-year, to around $19.68 billion. Among the 19 sectors receiving funds in the first 11 months, processing and manufacturing took the lead with almost $15 billion, accounting for 59.5 per cent of total FDI. This was followed by … [Read more...] about FDI inflows report some improvement on-month

Thao, a migrant worker, has been waiting for three years for an apartment at the D’s Gold building in HCMC’s Binh Tan District. She has paid VND700 million ($28,226), or 70% of the apartment’s cost, so far but found construction has come to a standstill over the past year. She said: "The apartment I visited last year and this year looks the same. The same wall, the same ceiling, the same floor. No more construction. No improvement." Due to the stalled project, she has to keep renting a house for VND4.5 million a month. She and a dozen of other apartment buyers have taken blankets, mosquito nets and food to the construction site and are carrying on a live-in protest against the developer. "We have paid for our apartments, but are now begging for them." Hang has paid for an apartment of nearly 50 square meters costing VND780 million at D’s Gold using bank loans. "I have to pay the bank nearly VND3 million interest a month." Two years after she started paying, she still … [Read more...] about Cash-strapped apartment projects stall, buyers distressed

Deputy Prime Minister Le Van Thanh The Decision details that the Ministry of Industry and Trade is in charge of and cooperates with related ministries, local authorities in managing energy use activities of the listed key power users in compliance with the Law on Energy Conservation and Effective Use, Decree No.21/2011/ND-CP by the Government on detailing measures to implement the mentioned law. This Ministry is also responsible for working with concerned state agencies, ministries, and the People’s Committee of provinces, cities to update the energy use status to the Prime Minister for the issuance of a list of key energy users by March 31 each year. The People’s Committee of all provinces, cities must direct relevant state departments, agencies to notify key energy users in their areas. The consumption of power must be closely monitored, and energy conservation programs must be launched among these users. Specialized state units located in each locality are asked to check, … [Read more...] about List of key energy users in 2021 released