Vietnam coal project supported by Japan, South Korea, to continue despite investor pressure
Rising investor and activist pressure to end fossil fuel financing led to Japan’s Mitsubishi Corporation pulling out from a US$2 billion power plant project in Vietnam last week, but a smaller project backed by both Tokyo and Hanoi still looks to be going ahead. Mitsubishi holds a 40 per cent stake in the 1.2-gigawatt Vung Ang 2 coal-fired plant in Ha Tinh province, with the rest being held by South Korean state-run utility Korea Electric Power Corporation (Kepco) and Japanese company Chugoku…
Vietnam coal project supported by Japan, South Korea, to continue despite investor pressure
Rising investor and activist pressure to end fossil fuel financing led to Japan’s Mitsubishi Corporation pulling out from a US$2 billion power plant project in Vietnam last week, but a smaller project backed by both Tokyo and Hanoi still looks to be going ahead. Mitsubishi holds a 40 per cent stake in the 1.2-gigawatt Vung Ang 2 coal-fired plant in Ha Tinh province, with the rest being held by South Korean state-run utility Korea Electric Power Corporation (Kepco) and Japanese company Chugoku…