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French Development Agency funds EVN’s solar power project

Vietnam Electricity (EVN) said on October 30 that it has signed a credit agreement for a solar power plant project with the French Development Agency (AFD).
French Development Agency funds EVN’s solar power project ảnh 1The loan by the French Development Agency will fund the Se San 4 solar power plant in the Central Highlands province of Gia Lai (Illustrative photo: VNA)

Hanoi (VNA) – Vietnam Electricity(EVN) said on October 30 that it has signed a credit agreement for a solarpower plant project with the French Development Agency (AFD).

The loan without government guarantee worth 24.2 million EUR is used to financethe Se San 4 solar power plant with a capacity of 49 MWp, which will beconstructed in the area of the Se San 4 hydropower plant in the CentralHighlands province of Gia Lai.

In addition to the Se San 4 solar powerproject, AFD has also committed loans without government guarantee for theexpanded Yaly hydropower project and a project to build power grids in theSouth. It is also considering a loan for the expanded Hoa Binh hydropower plantproject.

EVN Deputy General Director Nguyen Xuan Nam said EVN highly appreciated thesupport and cooperation of AFD in arranging loans without government  guarantee  for the power projects, especially in thecontext that the Government is tightening and moving towards stopping theguarantee for EVN's power projects.

Currently, EVN has to diversify financial mobilisation channels to meet itshuge investment needs in the coming years, he added.

AFD is an international financial institution operating for non-profit of theFrench Government by providing loans and non-refundable aid for organisationsand state-owned enterprises with the main target of reducing emissions and copingwith climate change.

AFD is the first and only provider of loans without government guarantee for EVNto implement power projects. AFD's first loan without government guarantee worth100 million USD to fund the Huoi Quang hydroelectric plant project was signedin 2010./. 
VNA
#Vietnam Electricity #EVN #solar power plant #French Development Agency #Se San 4 solar power plant #Gia Lai #Se San 4 hydropower plant #EVN's power projects #updated Vietnam news #Vietnamplus #Vietnam News Agency France
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