IFC, SN power to jointly develop renewable energy in Vietnam

International Finance Corp. said Friday that it has entered a joint renewable energy development agreement with Norway’s Statkraft Norfund Power Invest AS, known as SN Power, to provide sustainable alternatives to meet growing demand for electricity in Vietnam.

The partners will acquire operating assets and invest in greenfield projects to build up a portfolio of renewable energy investments in the country, IFC said in a statement.

Vietnam’s economy has grown rapidly and electricity supply has not been able to meet the growing demand, resulting in recurrent blackouts, it said.

Tags: Renewable energy, Vietnam energy

Posted by VBN on Jul 5 2010. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry