ADB agrees financing package for 50-MW solar project in Vietnam

Solar panels. Featured Image: Jackiso/Shutterstock.com

January 22 (Renewables Now) - The Asian Development Bank (ADB) has inked a USD-37.8-million (EUR 34.1m) deal to support the development and construction of a 50-MW solar photovoltaic (PV) park in Vietnam.

The financing package for the so-called Guld Solar Power Project includes a USD-11.3-million A loan and an up to USD-18.9-million B loan funded by Bangkok Bank PCL, Siam Commercial Bank PCL and Standard Chartered Bank (Thai) PCL. In addition, it includes a USD-7.6-million loan by the Leading Asia’s Private Infrastructure Fund that is backed by the Japan International Cooperation Agency.

The loan deal was signed with TTC Energy Development Investment JSC, which is 90%-owned by private power producer GED.

The solar project is located about 50 km (31 miles) northwest of Ho Chi Minh City in Tay Ninh Province. Upon completion, the facility will directly serve the power demand of residents and businesses of the city.

(USD 1.0 = EUR 0.902)

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