Nam Dinh 1 IPP coal-fired plant closes financing

Saudi Arabia-based ACWA Power and South Korea-based Taekwang Power have achieved financial close for the planned 1.2 GW Nam Dinh coal-fired power plant Phase I project in Vietnam. 

The financing deal was signed with the Agricultural Bank of China, Bank of China, China Construction Bank, China Development Bank, China Export-Import Bank, China Minsheng Bank, and ICBC.

The developers will finance the project on a 77:23 debt to equity ratio with the debt funding of about US$1.85 billion.