Development finance institution International Finance Corporation (IFC) and clean energy-focused private equity firm Armstrong Asset Management have acquired 16 and 20 percent stakes, respectively, in Vietnam-based renewable energy company Gia Lai Electricity (GEC). Armstrong structured its commitment through Armstrong South East Asia Clean Energy Fund. With IFC and Armstrong’s support, GEC will expand its hydropower portfolio and invest in other renewable energy segments such as wind and solar power. Financial details of the transaction were not disclosed.