Work in progress: The Phu My 1-3 solar project will be ready by the end of this month.
MALAYSIA-based independent power producer Leader Energy Pte Ltd is investing US$43.6mil (RM176.76mil) in Vietnamese renewable energy company, Clean Energy Vision Joint Stock Company.
Clean Energy Vision is part of Bamboo Capital Group Energy Joint Stock Company, which is listed on the Ho Chi Minh Stock Exchange.
Leader Energy will secure the stake via a convertible bond subscription of the shares in the Vietnamese renewable energy company.
Leader Energy chief executive officer Gan Boon Hean says the convertible bond subscription is intended for the equity investment in a joint-venture to develop the 330 MegaWatt peak (MWp) Phu My 1-3 solar power plants.