Project demonstrates mobilization of private financing for wind power projects in the region
28 May 2021 |
Chito Santiago
The Asian Development Bank (ADB) on May 27 announced the signing of a US$116 million green loan with three Vietnamese wind power companies, demonstrating its commitment to help the country forge a future for clean energy.
The three companies – Lien Lap Wind Power Joint Stock Company, Phong Huy Wind Power Joint Stock Company and Phong Nguyen Wind Power Joint Stock Company – will build and operate three 48-megawatt (MW) wind farms, for a total of 144MW, in Quang Tri province. The three companies are owned by Power Construction Joint Stock Company No 1 (PCC1) and RENOVA, and the projects will increase Vietnam’s wind power capacity by 30%, bolstering the country’s drive to boost its energy supply.