ADB to fund 47.5-MWp floating solar project in Vietnam

Godley floating solar project in the UK. Author: United Utilities. License: All Rights Reserved.

October 2 (Renewables Now) - The Asian Development Bank (ADB) will take part in a USD-37-million (EUR 33.9m) financing deal to support the construction of a 47.5-MWp floating solar photovoltaic (PV) park in Vietnam, the lender said today.

The debt will be extended to Vietnam's Da Nhim–Ham Thuan–Da Mi Hydro Power Joint Stock Company (DHD), which is a subsidiary of Viet Nam Electricity (EVN) Power Generation Corp. 

The project’s debt package will include a USD-17.6 million loan from the lender’s ordinary capital resources, plus USD 15 million of blended concessional co-financing by the Canadian Climate Fund for the Private Sector in Asia and the Canadian Climate Fund for the Private Sector in Asia II. An additional USD 4.4 million will be extended from Leading Asia’s Private Infrastructure Fund (LEAP).

The proposed floating PV system will be installed on an artificial reservoir of DHD’s 175-MW Da Mi hydropower plant. Once completed, the installation will be the first large-scale floating solar plant in Vietnam and the largest one of its kind in Southeast Asia.

(USD 1.0 = EUR 0.916)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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