ADB signed a $37.8 million loan deal with TTC Energy Development Investment JSC (TTC Energy) to provide long-term financing to develop and operate a 50 MW photovoltaic solar power plant in the southern province of Tay Ninh in Vietnam. The solar power plant will directly serve the electricity demand of residents and businesses of Ho Chi Minh City and surrounding areas. It is expected to be operationalised in 2020 and reduce annual carbon dioxide emissions by 29,760 tonnes annually. ADB’s assistance for the project is has been provided through an innovative project finance structure to ensure the bankability of the project. ADB’s assistance for the Gulf Solar Power Project was provided through an innovative project finance structure, which ensured the bankability of the project. The loan is composed of an ‘A loan’ of $11.3 million and a ‘B loan’ of up to $18.9 million. The ‘B loan’ will be funded by Bangkok Bank Public Company Limited, Siam Commercial Bank Public Company Limited and Standard Chartered Bank (Thai) Public Company Limited. Further, an additional $7.6 million loan has been provided by the Leading Asia’s Private Infrastructure Fund, which is supported by the Japan International Cooperation Agency (JICA).
