Investors pull the plug on hydropower

By Thanh Nien News, September 19th, 2013

The ardor to build hydropower plants is cooling off, with investors trying to pull out because of low profits.

Construction firm Trung Nam announced it is selling its stakes in three hydroelectricity projects: the Dong Nai No. 2 in Dong Nai Province and Krong No Nos. 2 and 3 in Lam Dong.

The firm holds 90 percent of the stake in Dong Nai No. 2 after sinking VND3 trillion (US142.9 million) in it. The 70-MW plant is expected to begin generating power later this year.

The other two, with a combined capacity of 46 MW, are under construction. They were scheduled to go on stream last year but have been delayed due to a funds shortage.

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