InfraCo Asia Development Pte. Ltd. has achieved the financial close of its 29.7 MW Coc San hydroelectric power project in Lao Cai Province in Vietnam.
The Coc San project is a US$50 million, 29.7MW run-of-river hydroelectric power generation project located on the Dum River near Lao Cai city, Lao Cai Province.
Construction is expected to be completed in 2016. The project’s clean, low cost, renewable energy will contribute to relieving the electricity shortage situation in Vietnam and will provide development benefits in the northern region of Vietnam.
The first draw down has been made under the project’s non-recourse US$23 million equivalent local currency credit agreement with Saigon Hanoi Commercial Joint Stock Bank (SHB) for financing the construction and operation of the Coc San project.
The Coc San project has been developed by InfraCo Asia through its manager Nexif Management Pte. Ltd..
InfraCo Asia holds an interest in the project through the project company, Lao Cai Renewable Energy Joint Stock Company, which it owns along with its minority partners Colben Energy Holdings Ltd, Vietnam Infrastructure Development and Finance Investment Joint Stock Company and HVD Construction and Investment Consultants Joint Stock Company.