Thursday, February 2 2023 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Jan 30
Week of Jan 23
Week of Jan 16
Week of Jan 09
Week of Jan 02
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Financing approvals near for Vietnam wind


    November 21, 2022 - Civi Yap

     

      Lenders are set to approve debt financing for a $155 million wind power project in south-central Vietnam.

      The JV of ACEN (65%) and BIM (35%) owns and operates the 88MW onshore wind farm in Ninh Thuan province. The project involves 22 wind turbine generators on salt field production land.

      Asian Development Bank, as the MLA, targets to receive board approval for the debt package by early November (2022), following approval by its credit committee on 13 September (2022).

      The $91.4 million loan syndication is a US dollar-denominated limited-recourse project financing. The loan comprises 2 tranches:

      • A loan – $35 million
      • B loan (commercial) – $56.4 million

      The project in September 2021 commenced operations without ADB funding due to the tight timeline to obtain PPA under the feed-in tariff (FIT) scheme with state-owned Vietnam Electricity (EVN).

      The Ministry of Industry and Trade this month (October 2022) announced an electricity price range for transitional wind and solar power projects that couldn't sell electricity to EVN since the FIT expired on November 2021. The FIT was $0.0085 per kWh for onshore wind and $0.0098 for offshore wind.

      The multilateral requires an environmental and social compliance audit for the project to be eligible for funding. It subsequently updated the study to cover the full construction phase and early operations phase from July 2020 to November (2022).

      Involved companies include:

      • Arup – ADB’s E&S
      • K2 Management – owner’s engineer consultant
      • PCC1 – substation contractor
      • General Electric – wind turbine supplier

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.