The Asian Development Bank (ADB) has arranged USD 173 million in financing to back the construction and operation of three wind farms in Vietnam with a combined capacity of 144 MW. The green loan project financing package arranged and syndicated by ADB includes a USD116 million ADB loan that consists of a USD35 million A loan directly funded by the bank and an USD81 million syndicated B loan. The financing is certified by the Climate Bonds Initiative.
The three wind projects, each with a capacity of 48 MW, are owned by Vietnam’s Power Construction Joint Stock Company No 1 (PCC1) and Japan-based Renova Incorporated. Located in Vietnam’s Quang Tri Province, the wind farms will boost the country’s wind power capacity by 30 per cent, helping it meet quickly increasing energy demand. The facilities are expected to produce an average of 422 GWh per year. The wind farms will be powered by Vestas turbines. The order was placed for 36 units of its V150-4.2 MW wind turbines, delivered in 4.0 MW operating mod.The wind farms are planned to go live in the third quarter of 2021. The project is being realised under 20-year power purchase agreements (PPAs) with EVN.