ADB signs $116m green loan for three wind farms in Vietnam
Out-Law News | 02 Jun 2021 | 2:38 am |
1 min. read
The Asian Development Bank (ADB) has signed a $116 million green loan with three local firms to finance the construction and operation of three 48 megawatts (MW) wind farms in Quang Tri province, Vietnam.
The project will increase Vietnam’s wind power capacity by 30% which will help Vietnam meet the rapidly growing demand for energy, said a statement.
It is part of a $173m green loan project financing package arranged and syndicated by ADB. It is ADB’s first financing of a wind power project in Vietnam and is certified by the Climate Bonds Initiative. The loan includes a $35m A loan directly funded by ADB and an $81m syndicated B loan.