Scatec refinances 39.4 MW Dam Nai wind project in Ninh Thuan

Norwegian renewables developer Scatec ASA has refinanced the US$37 million of non-recourse project debt for the 39 MW Dam Nai wind power plant project in Vietnam.

With this refinancing, Scatec has achieved improved project return through a reduced interest margin and a covenant relief which allows for an immediate cash distribution of US$6 million. The refinancing is being facilitated by Vietcombank, one of the largest commercial banks in Vietnam.

The Dam Nai wind farm is 100 percent owned by Scatec and was part of the acquisition of SN Power in early 2021. It is located in the Ninh Thuan province, approximately 350 kilometers north of Ho Chi Minh City, in the southern part of the Southeast Asian country.