October 31 (Renewables Now) - The French development agency AFD will provide EUR 24.2 million (USD 27m) in debt to power company Electricity of Vietnam (EVN) for the construction of a 49-MWp solar park in the country’s Gia Lai Province.
The government-guaranteed loan will cover the entire engineering, procurement and construction (EPC) contract value of the project, the state-owned Vietnamese utility said on Wednesday. The credit agreement concerns the so-called Se San 4 Solar Power Plant project, which will be installed at the site of the Se San 4 hydropower plant in the Central Highlands province.
Apart from the solar photovoltaic (PV) project, AFD is also considering continuing its financing support for a project that foresees the expansion of the 1,920-MW Hoa Binh hydropower station on the Black River in Hoa Binh Province, according to the statement.
(EUR 1.0 = USD 1.117)