Singapore’s Asiatic Group (Holdings) Ltd. reported May 28 its Colben Energy Holdings (Vietnam) Ltd. subsidiary has signed an agreement to study a 1.4-MW hydroelectric project in Vietnam with plans to expand it.
Asiatic said Colben signed a memorandum of understanding with Lao Cai Mineral Co. (LCMC) to review LCMC’s hydro project in Coc San commune of Bat Xat District in Lao Cai Province. The feasibility study of the project is to include a review of upgrading the project to 5 MW.
If the feasibility study is favorable, Asiatic said it would become the first listed company in Singapore to start a hydropower project in Vietnam.
Asiatic, which was founded as a fire protection equipment designer, acquired Colben and ventured into development of three heavy-oil fueled power plants in Cambodia.
“This MOU marks our first major attempt in expanding our power generation business beyond Cambodia,” Managing Director George Tan said. “… Besides mitigating the energy security issues in Vietnam, our clean and renewable energy theme will also help to resolve the rising environmental concerns brought about by conventional power generation methods.”