Japan’s JERA acquires stake in Vietnamese firm for renewables expansion
Japan’s largest power company JERA has acquired a 35.1% stake in Vietnamese firm Gia Lai Electricity JSC from the World Bank’s investment arm IFC and Armstrong S.E. Asia Clean Energy Fund Pte.
JERA, a 50-50 joint venture between Tokyo Electric Power Co. (Tepco) and Chubu Electric Power, announced Tuesday its takeover of all holdings of IFC and the Singapore-based investment firm in the Vietnamese company, but did not disclose the price.
The acquisition is expected to be completed after necessary regulatory approvals, JERA said, adding the deal was made through its subsidiary JERA Asia Pte.
The deal makes the Japanese company the largest foreign stakeholder in Gia Lai Electricity, a power unit of Ho Chi Minh City-based TTC Group, which has interests in energy, agriculture, real estate, tourism and education.
Gia Lai Electricity, listed on the Ho Chi Minh Stock Exchange as GEC, owns and operates hydro, solar and wind power projects with a capacity of around 600 megawatts, including projects under construction.

A solar and wind power farm in Ninh Thuan province, a renewable energy hub in south-central Vietnam. Photo courtesy of Industry and Trade newspaper.
As Vietnam seeks to shift to cleaner energy and achieve carbon neutrality by 2050, the TTC subsidiary has plans to expand its power generation assets to 1.7 gigawatts by 2025, mainly comprising solar and wind power.
“As one of Japan’s leading energy companies, our objectives are to contribute to both economic growth and decarbonization across Asia, and this investment represents another milestone in this effort. As a shareholder in GEC, we will support its expansion of renewables in Vietnam,” a company release quoted JERA Asia CEO Toshiro Kudama as saying.
JERA said the Japanese major has recently established a new corporate vision for 2035, “to scale up its clean energy platform of renewables and low greenhouse gas thermal power, sparking sustainable development in Asia and around the world.”
TTC chairman Dang Van Thanh said his group had an interest in discussing with JERA the potential of liquefied natural gas (LNG)-fired power, an area that has recently caught great attention in Vietnam, which is also one of JERA’s strengths.
This March, JERA announced the start of full-scale operations of its Vietnam subsidiary, JERA Energy Vietnam Co.
“JERA has positioned Vietnam as a priority country and is considering the development of several LNG-to-power projects that will contribute to both decarbonization and a stable supply of energy, supporting economic growth,” the Japanese company had said then.
JERA Energy Vietnam has started work on the basic design for a 4.5 GW project in Hai Phong city’s Tien Lang district. It is a multi-billion dollar integrated gas-for-power development JERA has been pursuing together with American giant ExxonMobil.
The domestic subsidiary is also responsible for furthering LNG-to-power projects in Vietnam and exploring new projects, including in renewable energy.
- Read More
VSIP begins work on industrial park project in northern Vietnam province Thai Binh
Construction of the Vietnam-Singapore Industrial Park (VSIP) Thai Binh commenced on Wednesday in northern Vietnam, with the witness of Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong.
Industrial real estate - Wed, March 26, 2025 | 10:41 pm GMT+7
Vingroup starts building mega urban project in Vietnam's Mekong Delta
Vietnam’s leading private conglomerate Vingroup on Wednesday embarked on construction of the VND28 trillion ($1.1 billion) Vinhomes Green City, the first mixed-use urban development in its ecosystem in the Mekong Delta province of Long An.
Real Estate - Wed, March 26, 2025 | 10:11 pm GMT+7
Indonesia, China cooperate in digital technology
Indonesia and China are expanding cooperation in the field of AI to promote digital transformation, especially in the fields of agriculture and smart cities.
Southeast Asia - Wed, March 26, 2025 | 10:01 pm GMT+7
Indonesia decides to join BRICS New Development Bank
Indonesian President Prabowo Subianto has announced the Government's decision to become a member of the New Development Bank (NDB), a multilateral development bank established by the five founding member states of the BRICS group.
Southeast Asia - Wed, March 26, 2025 | 9:57 pm GMT+7
Major Vietnamese broker SHS to double charter capital
Saigon-Hanoi Securities Corporation (SHS) plans to issue 894 million shares to increase its charter capital from VND8.13 trillion to VND17.07 trillion ($667.6 million), making it one of the top three securities firms in term of charter capital.
Companies - Wed, March 26, 2025 | 8:30 pm GMT+7
Elon Musk company okayed to pilot Starlink satellite internet service in Vietnam
Vietnam has allowed the U.S.'s SpaceX to pilot Starlink low-orbit satellite internet service in the country on a pilot basis until January 1, 2031.
Industries - Wed, March 26, 2025 | 5:18 pm GMT+7
Danish toymaker Lego to open $1.3 bln Vietnam plant next month
Denmark's Lego will officially open its factory in VSIP III Industrial Park in Vietnam's southern province of Binh Duong on April 9.
Industries - Wed, March 26, 2025 | 4:18 pm GMT+7
Top Singaporean firms earn high incomes in Vietnam
Singapore is the second-biggest foreign investor in Vietnam, with over $84 billion in registered investment capital as of end-January and many prominent investors raking in high incomes.
Companies - Wed, March 26, 2025 | 3:45 pm GMT+7
Vietnam, Singapore ink significant deals in Hanoi
Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong on Wednesday witnessed the signing of many cooperation deals between agencies and enterprises of the two countries.
Economy - Wed, March 26, 2025 | 2:51 pm GMT+7
Vietnam's major policies are reshaping economic development
Major policies are reshaping Vietnam's approach to economic development, which focuses on science, technology, and private enterprises, said a leader at the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Wed, March 26, 2025 | 12:11 pm GMT+7
PM okays over $10 bln urban area project in central Vietnam
The over VND260.3 trillion ($10.16 billion) Cam Lam New Urban Area project in the south-central province of Khanh Hoa has received in-principle approval from Prime Minister Pham Minh Chinh.
Real Estate - Wed, March 26, 2025 | 8:58 am GMT+7
S Korea's KIM Fund raises stake in Vietnam's marine transportation firm VIPCO
South Korea’s KIM Fund has increased its stake in Hai Phong city-based Vietnam Petroleum Transport JSC (VIPCO, HoSE: VIP) to 2.73%, making it the latter’s second-largest shareholder.
Companies - Wed, March 26, 2025 | 8:30 am GMT+7
Vietnam, Singapore seek cooperation chances in semiconductor industry
The Vietnam Trade Office in Singapore, in collaboration with the Singapore Semiconductor Industry Association (SSIA), organized a hybrid seminar on Monday to introduce Vietnam's potential, advantages, and development strategies for the semiconductor industry.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
OV intellectuals in UK suggest blueprint for Vietnam’s int’l financial hub ambition
Vietnam can rise as a major international financial centre, both regionally and globally, with a strategic vision that highlights transparency, a skilled workforce, modern infrastructure, robust financial markets, and strong international branding, the Vietnam Intellectual Society in the UK and Ireland (VIS) told visiting Vietnamese Permanent Deputy Prime Minister Nguyen Hoa Binh in a recent meeting.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
Vietnam Deputy PM discusses financial center development with ECB
Vietnam's Standing Deputy Prime Minister Nguyen Hoa Binh on Monday met with representatives of the European Central Bank (ECB) to discuss plans for the establishment of financial centers in Vietnam, as part of his working visit to Germany – the final stop in his European tour.
Southeast Asia - Tue, March 25, 2025 | 10:52 pm GMT+7
Indonesia keeps commitment on energy transition
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto on Monday affirmed that the U.S. decision to pull out of the Just Energy Transition Partnership (JETP) will not impact the other partners' commitment to it.
Southeast Asia - Tue, March 25, 2025 | 10:35 pm GMT+7