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.
Country updates
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March 30, 2022
EVN plans expansion of Tri An hydropower plant in Dong Nai
At a cost of VND3.9 trillion (US$170 million), the 400 MW Tri An hydropower project in Dong Nai Province will be enlarged by 200 MW. According to an agreement inked between state power utility Vietna...
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March 29, 2022
Vietnam Electricity to expand 400 MW hydropower project in Vietnam
The State power utility Vietnam Electricity (EVN) and Dong Nai have signed an agreement to expand the capacity of the 400 MW Tri An hydropower project in Dong Nai Province by 200 MW.
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March 28, 2022
Samsung in US$940m contract to build 1,500 MW Nhon Trach-3 and 4 gas-fired power project in Dong Nai
Samsung C&T has created a joint venture with Lilama for a US$940 million engineering, procurement, and construction contract to develop one of Vietnam's first liquefied natural gas-fueled power pl...
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February 24, 2022
Super Energy unloads 49% of 837 MW Vietnamese solar business
AC Energy Corp. (ACEN), a publicly traded energy company, has announced that its unit is purchasing a 49% stake in Super Energy Corp.'s Vietnam business for US$165 million. Solar NT plans to own and...
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January 27, 2022
T&T starts construction of 1.5 GW Hai Lang LNG-to-power Phase 1 project
The consortium of companies composed of Vietnam's T&T Group and South Korea's Korea Southern Power Corp (Kospo), Hanwha Energy Corp., and Korea Gas Corp (Kogas), has started the construction...
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