PV Power Boosts Capital for 1.5GW Nhon Trach 3 & 4 Clean Energy Project
PV Power, a leading energy company in Vietnam, has announced a significant capital increase to fund the construction of the Nhon Trach 3 & 4 power plant projects in Dong Nai province. This project, a national key project with several firsts, is expected to accelerate Vietnam's clean energy transition.
The capital expansion will be carried out through an offering to existing shareholders, a bonus share issuance, and a stock dividend payment. The offering to existing shareholders will issue over 281 million shares, raising about VND2,810 billion ($106.4 million). Meanwhile, the bonus share issuance will issue over 351 million shares, valued at over VND3,512 billion ($132.98 million). Additionally, a stock dividend payment will issue over 93.6 million shares, valued at approximately VND936 billion ($35.44 million). Once operational, the project will supply around 9 billion kWh of electricity annually, contributing significantly to Vietnam's power grid.
PV Power's capital increase, totaling over VND30,678 billion, will fund the Nhon Trach 3 & 4 power plant projects. These plants, with a total capacity of 1,500 MW and an investment cost of $1.4 billion, are expected to play a crucial role in Vietnam's clean energy transition. The project's approval comes with amendments to business line registrations, an updated company head office address, and adjusted charter.
