International Finance Corporation (IFC), a member of the World Bank Group, is funding the development and construction of two wind power projects in Central Vietnam with the aim to support Vietnam´s transition to cleaner low-carbon power generation.
IFC is providing a financing package of US$57 million to Thuan Binh Wind Power Joint Stock Company (TBW), a subsidiary of Refrigeration Electrical Engineering Corporation (REE). This will enable the construction of two onshore wind power plants- Phu Lac 2 in Binh Thuan province and Loi Hai 2 in Ninh Thuan province. The combined total capacity of wind farms is up to 54.2 megawatts. Once operational at the end of 2021, the plants will generate about 170 million kilowatt-hours of clean energy per year.
