ADB grants 116-mln-USD green loan to develop wind power farms in Vietnam

Hanoi (VNA) – 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.

The companies include Lien Lap Wind Power JSC (Lien Lap), Phong Huy Wind Power JSC (Phong Huy), and Phong Nguyen Wind Power JSC (Phong Nguyen).

The project will increase Vietnam’s wind power capacity by 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 international Climate Bond Standard and Certification Scheme.

“Lien Lap, Phong Huy, and Phong Nguyen will add to ADB’s extensive experience in large-scale renewable energy projects in Vietnam, and underlines our commitment to helping the country map a clean energy future,” said Jackie B. Surtani, ADB Private Sector Operations Department Infrastructure Finance Division Director for East Asia, Southeast Asia, and the Pacific.

“This is a milestone project which demonstrates how private financing can be effectively mobilized to develop wind power projects in Asia and the Pacific.”

The project will generate an average of 422 gigawatt-hours of electricity and avoid an average of 162,430 tonnes of CO2 emissions annually. A gender action plan under the project will provide women from the local community with access to training on wind power operation and management./.