Mayer Brown has advised Japanese electricity provider Chubu in acquiring 20% of the ordinary shares of Bitexco Power Corporation (BPC), Vietnam’s leading private renewable power company.
The transaction marks Chubu’s first investment abroad in a renewable power company. “There is a clear trend of investment by our Japanese clients in overseas renewables companies,” said Rupert Burrows, Mayer Brown’s Tokyo managing partner.
Chubu is listed on the Tokyo Stock Exchange and Nagoya Stock Exchange, with a market capitalisation of USD8 billion.
BPC owns and operates 21 hydropower plants and one solar power plant in Vietnam, with a total gross generation capacity of 1,038MW.