Japan's Chubu Electric to buy 20% stake in Vietnam renewable energy firm Bitexco

[TOKYO] Japan's Chubu Electric Power Co said on Tuesday it will buy a 20 per cent stake in Vietnamese renewable energy company Bitexco Power Corp for an undisclosed sum, to gain a foothold in the growing market and expand its portfolio of green energy.

The move comes a day after its joint venture with Tokyo Electric Power Company Holdings, JERA, said it will invest US$1.58 billion to take a 27 per cent stake in Aboitiz Power in the Philippines to boost its presence in the country where power demand is growing.

REUTERS