"This partnership with IFC will allow SN Power to achieve synergy by finding viable hydro-electric power projects that we can develop and operate sustainably," said SN Power's Executive Vice President for Southeast Asia, Erik Knive.

IFC Director for Infrastructure Anita George said, "We hope that this joint development agreement will pave the way for a strong portfolio of renewable energy projects and help meet the country's growing demand for power."

The joint development agreement will enable IFC, acting through IFC InfraVentures, an early stage project development fund for IDA (International Development Association) countries, and SN Power to develop an investment strategy, policy, and guidelines to address Vietnam's growing demand for power.

The partners will acquire operating assets and invest in green field projects to build up a portfolio of renewable energy investments in the country.

"We believe we can strengthen Vietnam's long-term renewable generating capacity through our power market experience and technology transfer," Knive said.