Korea Electric Power agreed to acquire a 40% stake in Vung Ang 2, a coal-fired project in Vietnam, from Hong Kong-based China Light & Power for $189m. With the approval from the board, the project is expected to start in the first half of 2021. OneEnergy Asia, in turn, wholly-owns VAPCO which is the Vietnamese project company to build and operate the 1200MW Vung Ang II thermal power plant located in Ha Tinh province, Vietnam. We assisted KEPCO with reviewing, negotiating, finalizing and executing the transaction documents including the Share Purchase Agreement and Shareholders’ Agreement and also providing high-level Vietnamese law advice on the regulatory aspects. "During a board meeting held Monday, board members approved the company's plan to join a coal-fired power plant construction project in Vietnam," KEPCO.