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The Asian Development Bank (ADB) has secured a $116m (€95.1m) green loan to build and operate three 48MW wind farms, totaling 144 MW, in Quang Tri Province, Vietnam.
The loan is with Lien Lap Wind Power Joint Stock Company (Lien Lap), Phong Huy Wind Power Joint Stock Company (Phong Huy), and Phong Nguyen Wind Power Joint Stock Company (Phong Nguyen) .
The project is expected to increase Vietnam’s wind power capacity by 30%, helping the country meet rapidly growing demand for energy.
Lien Lap, Phong Huy, and Phong Nguyen are owned by Power Construction Joint Stock Company No.1 (PCC1) and RENOVA.
The loan forms part of a $173m green loan project financing package arranged and syndicated by ADB as mandated lead arranger and bookrunner.
The Asian Development Bank (ADB) has signed a $116 million green loan for three wind farms in the central Vietnamese province of Quang Tri, aiming to increase the Southeast Asian country’s wind power capacity by 30 per cent.
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.
MANILA, Philippines, May 28 The Asian Development Bank issued the following news release on May 27, 2021:The Asian Development Bank (ADB) signed a $116 million green loan with Lien Lap Wind Power Joint Stock Company (Lien Lap), Phong Huy Wind Power Joint Stock Company (Phong Huy), and Phong Nguyen Wind Power Joint Stock Company (Phong Nguyen) to build and operate three