ADB grants 116-mln-USD green loan to develop wind power farms in Vietnam
The Asian Development Bank (ADB) signed a 116-million-USD green loan with three Vietnamese firms to finance the construction and operation of three 48-megawatt (MW) wind farms, totaling 144 MW, in the central province of Quang Tri.
Trung Nam Wind Farm in the south-central province of Ninh Thuan. (Photo: VNA)
Hanoi (VNA) – The Asian Development Bank (ADB)signed a 116-million-USD green loan with three Vietnamese firms to finance theconstruction and operation of three 48-megawatt (MW) wind farms, totaling 144MW, in the central province of Quang Tri.
The companies include Lien Lap Wind Power JSC (Lien Lap),Phong Huy Wind Power JSC (Phong Huy), and Phong Nguyen Wind Power JSC (PhongNguyen).
The project will increase Vietnam’s wind power capacityby 30 percent, helping the country meet the rapidly growing demand for energy.
It is ADB’s first financing of a wind power project in Vietnam,and is certified by the Climate Bonds Initiative, which administers the internationalClimate Bond Standard and Certification Scheme.
“Lien Lap, Phong Huy, and Phong Nguyen will add to ADB’sextensive experience in large-scale renewable energy projects in Vietnam, andunderlines our commitment to helping the country map a clean energy future,”said Jackie B. Surtani, ADB Private Sector Operations Department InfrastructureFinance Division Director for East Asia, Southeast Asia, and the Pacific.
“This is a milestone project which demonstrates howprivate financing can be effectively mobilized to develop wind power projectsin Asia and the Pacific.”
The project will generate an average of 422gigawatt-hours of electricity and avoid an average of 162,430 tonnes of CO2emissions annually. A gender action plan under the project will provide womenfrom the local community with access to training on wind power operation andmanagement./.
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Trung Nam Wind Farm in the south-central province of Ninh Thuan. (Photo: VNA)
