Joint Venture Invests in Vietnam Hydropower Plants
Nippon Koei Energy Solutions and Hokuriku Electric Power are investing in two Vietnamese hydropower plants through a new joint venture.
Updated on Nov. 2, 2026 in Utilities
Nippon Koei Energy Solutions and Hokuriku Electric Power established Hokuriku And Koei Energy Solutions Vietnam Company Limited in Hanoi in July 2026, and held a closing ceremony for the investment on 16 October 2026. The joint venture acquired stakes in two hydropower plants owned by AnLam's Brothers Company Limited.
Why it matters
The investment brings Japanese power and engineering expertise into Vietnam's hydropower sector, which supplies electricity to the national utility Vietnam Electricity (EVN). It also gives the partners a platform for further renewable energy projects in the country.
The joint venture is split 66% to Hokuriku Electric Power and 34% to Nippon Koei Energy Solutions, and the two acquired plants have a combined capacity of 36MW and average annual generation of 140,200MWh. Financial terms of the stake acquisition were not disclosed in the source material.
The players
Nippon Koei Energy Solutions
Nippon Koei Energy Solutions is a Japanese engineering and consulting firm that develops small hydropower projects and provides project development services across Asia.
Hokuriku Electric Power
Hokuriku Electric Power is a Japanese electric utility based in the Hokuriku region that operates power plants and holds the majority stake in the joint venture.
AnLam's Brothers Company Limited
AnLam's Brothers Company Limited is a Vietnamese company that owned the two hydropower plants whose stakes were acquired by the joint venture.
The details
The joint venture, Hokuriku And Koei Energy Solutions Vietnam Company Limited, acquired stakes in the Nam Ban 3 plant in Lai Châu province and the Nam Chim 2 plant in Sơn La province. Both plants sell electricity to Vietnam Electricity (EVN), and the partners combine Nippon Koei's project development experience with Hokuriku's plant operations expertise.
Timeline
• 2015: Nam Chim 2 plant entered operation.
• 2021: Nam Ban 3 plant began operating.
• July 2026: Joint venture established in Hanoi.
• 16 October 2026: Closing ceremony held for the investment.
Market Landscape
Japanese utility and engineering firms are increasingly pairing project development with plant operations to compete for overseas renewable assets in Southeast Asia. This joint venture follows that pattern by combining Nippon Koei's development experience with Hokuriku Electric Power's operating expertise.
For electricity consumers in Vietnam, the investment adds capacity to the national grid through plants that already sell power to EVN. The change does not alter retail electricity prices or availability in the source material.
The takeaway
Foreign partnerships that combine development and operating expertise are becoming a common route into emerging-market renewable energy. Readers following utility investment trends can watch whether similar joint ventures expand beyond the two plants named here.
Further reading
For more on how energy providers are expanding their reach, see Utilities.
Source note: This article includes information reported by International Water Power.
