17 June 2016
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Insights InfraCo Asia
Special Update
Coc San Hydropower Project Launch
Dear ,
InfraCo Asia was proud to attend the launch of the 29.7MW, run-of-river Coc San Hydropower Project in Vietnam on 8 June 2016. The project is a powerful illustration of the impact of InfraCo Asia's work supporting sustainable, ethical infrastructure development activities by taking an equity stake in early-stage, high-risk projects.
Over 250 guests attended a ceremony by the Coc San dam site in Lao Cai Province. The launch was supported by representatives of the governments of the UK, Switzerland and Australia, who provide funding through the Private Infrastructure Development Group (PIDG). Local officials, dignitaries, personnel from the project owner/operator Lao Cai Renewable Energy (LCRE) and InfraCo Asia team and Board members attended.
You can read a Coc San launch feature story on the InfraCo Asia website.
Donor government representatives, local dignitaries and InfraCo Asia CEO, Mr Allard Nooy, cutting a ceremonial ribbon at the official Coc San Hydropower launch.
COC SAN AT-A-GLANCE
Electricity demand in Vietnam is growing 15% annually, and the country is committed to developing generation of renewable energy and establishing a competitive electricity market.
WHAT INFRACO ASIA DID
Work to develop the Coc San Hydropower Project in the region’s terraced terrain had started in 2011, but stalled when previous investors expended their initial capital and the project was unsuccessful in securing long-term debt financing.
InfraCo Asia assessed that plans for the plant were still viable and—working in close partnership with the Lao Cai Provincial People’s Committee—provided donor-government-backed development funding of US$7.54m. This enabled the financing and completion of a project worth a total of US$49.9m.
InfraCo Asia CEO Allard Nooy and Lao Cai Renewable Energy (LCRE) General Director, Ids Groenhout (both centre) don the LCRE uniform along with the project's operational team
“This is a story we are proud to tell, because it represents our leadership in what is truly a new way of approaching infrastructure development in emerging Asia,” InfraCo Asia CEO, Mr Allard Nooy.
THE PIDG MODEL
Through its companies, PIDG mobilises private sector investment to assist developing countries in providing infrastructure vital to boosting their economic growth, and combating poverty.
InfraCo Asia is funded through PIDG by the governments of the UK, Switzerland and Australia. Donor representatives based in Vietnam lent their support to Coc San launch-week activities. HE Mr Giles Lever, UK Ambassador to Vietnam, and Mr Miroslav Delaporte, Vietnam Director for Switzerland’s State Secretariat for Economic Affairs (SECO) both attended the 8 June Coc San launch, and delivered speeches.
You can view footage of launch-day speeches on our Vimeo channel
HE Mr Giles Lever and Mr Miroslav Delaporte arrive for the launch of the Coc San Hydropower Project
IN THE MEDIA
Hanoi media event
The UK Ambassador to Vietnam, HE Mr Giles Lever, and Mr Andrew Shepherd, First Secretary at the Australian Embassy in Hanoi joined InfraCo Asia CEO Mr Allard Nooy during a media event held in Hanoi on Monday 6 June.
A still from Vietnam's Central Television News story filmed in Hanoi during the 6 June press conference.
Mr Andrew Shepherd, Mr Allard Nooy and HE Mr Giles Lever at the Lao Cai Renewable Energy office in Hanoi.
Mr Nooy provided a briefing for press, who were keen to find out more about an infrastructure project that represents the first Foreign Direct Investment in hydropower in northern Vietnam.
Follow links to Coc San media coverage on the InfraCo Asia website.
LAUNCH HIGHLIGHTS
View a gallery of highlights from the launch day here.
OPPORTUNITIES
InfraCo Asia’s key expertise is in early stage development of infrastructure projects. We are interested in projects located in South East Asia, Myanmar and South Asia that may be ideal candidates for InfraCo Asia’s co-development program. We welcome enquiries - info@infracoasia.com +65 6823 6860
If you would like to find out more about collaboration and partnership opportunities with InfraCo Asia, please get in touch: info@infracoasia.com.
About InfraCo Asia
InfraCo Asia www.infracoasia.com is a commercially managed infrastructure development and investment company headquartered in Singapore. It aims to stimulate greater private sector investment in infrastructure in Bangladesh, Bhutan, Cambodia, India, Indonesia, Laos, Myanmar, Nepal, Pakistan, Sri Lanka, the Philippines and Vietnam. InfraCo Asia develops and funds early stage, high-risk infrastructure development activities, taking an equity stake in socially responsible and commercially sustainable projects.
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