HSBC Vietnam has arranged a USD105 million offshore syndicated green term loan for Northern Power Corporation (EVNNPC), marking the power utility’s first offshore syndicated financing of this type. HSBC acted as sole mandated lead arranger, underwriter and bookrunner, green coordinator and facility agent. The eight-year facility was significantly oversubscribed, attracting 15 lenders from China, South Korea, Taiwan and Thailand. Proceeds will finance battery energy storage system (BESS) units at existing 110 kV substations across northern Vietnam, with the financing structured in line with the Green Loan Principles.
EVNNPC’s BESS programme will cover 70 existing substations to strengthen grid stability and reliability, accommodate rising electricity demand and reduce the risk of congestion and outages. The initiative will support implementation of Vietnam’s revised Power Development Plan VIII and advance energy storage development under the National Energy Master Plan. The offshore financing will also diversify EVNNPC’s funding sources and support investment in grid resilience and the country’s energy transition.