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Vietnam Group to Boost Renewables as Nation Aims to Curb Coal

  • Japan’s Jera acquires 35% stake in TTC Group’s power unit
  • TTC Group aims to double renewable capacity through 2025
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Vietnamese conglomerate TTC Group aims to double its renewable energy capacity through 2025 with a major investment in wind power and a partnership with Japan’s largest power generator Jera Co. 

Jera acquired a 35.09% stake in TTC Group’s listed unit Gia Lai Electricity JSC, according to Dang Van Thanh, chairman of the conglomerate, whose businesses range from energy to tourism. Jera, which becomes the largest foreign stakeholder in the unit, bought the shares from International Finance Corp. and Singapore-based Armstrong Asset Management for an undisclosed amount, Thanh said.