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

TOKYO : Japan's Chubu Electric Power Co Inc said on Tuesday it will buy a 20per 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 Inc, JERA, said it will invest US$1.58 billion to take a 27per cent stake in Aboitiz Power Corp in the Philippines to boost its presence in the country where power demand is growing.

(Reporting by Yuka Obayashi; Editing by Kim Coghill)

Source: Reuters

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