ADB Signs Green Loan to Develop 144 MW Wind Farms in Viet Nam
07/06/2021 12:06
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 48-megawatt (MW) wind farms, totaling 144 MW, in Quang Tri Province, Viet Nam. The project will increase Viet Nam’s wind power capacity by 30%, helping the country meet the 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, Inc.
The loan forms part of a $173 million green loan project financing package arranged and syndicated by ADB as mandated lead arranger and bookrunner. It is ADB’s first financing of a wind power project in Viet Nam, and is certified by the Climate Bonds Initiative, which administers the international Climate Bond Standard and Certification Scheme. The ADB loan comprises a $35 million A loan directly funded by ADB and an $81 million syndicated B loan./.
Source: adb.org