This JDA is expected to enable IFC, acting through IFC InfraVentures, an early stage project development fund, and SN Power to develop an investment strategy, policy and guidelines to address Vietnam’s growing demand for power.

The partners will acquire operating assets and invest in greenfield projects to build up a portfolio of renewable energy investments in the country. The project will be IFC’s first investment in Vietnam through IFC InfraVentures, and SN Power’s first partnership in Vietnam.

SN Power and IFC have collaborated previously on several of SN Power’s global investments in hydropower and wind projects in Chile, India and the Philippines. Norway-based SN Power uses IFC’s social and environmental performance standards for conducting due diligence of acquisition and greenfield power projects.