The Asian Development Bank (ADB) has signed a US$37.8 million loan deal with TTC Energy Development Investment Joint Stock Company (TTC Energy) to provide long-term financing to develop and operate a 50 megawatt (MW) photovoltaic solar power plant in Tay Ninh Province in Viet Nam.
ADB’s assistance for the Gulf Solar Power Project was provided through an innovative project finance structure, which ensured the bankability of the project. The loan is composed of an US$11.3 million A loan and a B loan of up to US$18.9 million.
An additional US$7.6 million loan was provided by the Leading Asia’s Private Infrastructure Fund, which is supported by the Japan International Cooperation Agency. The B loan will be funded by Bangkok Bank PCL, Siam Commercial Bank PCL, and Standard Chartered Bank (Thai) PCL.
The project is located about 50 kilometers northwest of Ho Chi Minh City. The solar power plant will directly serve the electricity demand of residents and businesses of Ho Chi Minh City and surrounding areas. It will reduce annual carbon dioxide emissions by 29,760 tons by 2020.
Country updates
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January 10, 2020
Vestas wins first full scope EPC contract for 50 MW intertidal project in Tra Vinh
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January 09, 2020
Vestas to supply turbines for 50 MW intertidal wind project in Hoa Binh
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January 08, 2020
ADB launches advisory tender for planned solar PV tender in Vietnam
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December 30, 2019
Ingeteam delivers inverters for 240 MWp Xuan Thien Thuan Bac solar project in Ninh Thuan province
Ingeteam has supplied its technology for a 240 MWp photovoltaic plant in Vietnam. The Xuan Thien Thuan Bac project is the largest contract of Ingeteam for the solar sector in Southeast Asia. The comp...
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December 23, 2019
Vestas develops wind energy solution for 50 MW intertidal offshore wind project in Bac Liêu Province
Vestas has developed a customized solution for a 50 MW intertidal project in Bạc Liêu Province, Vietnam for the local EPC construction company Bac Phuong JSC. The intertidal project site is cove...
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