US utility plans $13bn windfarm for South China Sea, says Vietnam

AES operates in 15 countries, one of which is Vietnam. It has been in the country since 2008, when it formed the company now known as AES Mong Duong, in which it has a 51% stake. The remaining shares are held by South Korea’s Posco Energy (30%) and the China Investment Corporation (19%). This was formed to develop the $2.1bn 1.2GW Mong Duong coal-fired power plant in the northeastern province of Quang Ninh.

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