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The Asian Development Bank (ADB) said it has signed an agreement to provide a loan
for up to $186 million in Vietnam's Hoa Hoi solar park.
A spokesman for the bank said it was the largest single-operating solar power plant in Vietnam and the largest in Southeast Asia, with an installed capacity of 257 megawatts
.
The plant has the potential to offset 123,000 tons of CO2
per year.
The solar facility will power
the cities of Quang Ngai and Nha Trang and its surroundings.
The loan was the country's first loan to Phu An Joint Stock Company
.
The company is jointly owned
by B.
Grimm Power Public Co and Truong Thanh Vietnam Group JSC.
Under the financing agreement, ADB will provide $27.
9 million in loans, a consortium of commercial banks will provide $148.
8 million, and Leading Asia's private infrastructure fund will provide $9.
3 million
.
Commercial banks include Bangkok Bank, Kasikrorn Bank, Katnakin Bank, Industrial and Commercial Bank of China and Standard Chartered Bank
.
According to ADB, green loans are designed to finance
projects that may bring environmental or climate-related benefits.
The Asian Development Bank (ADB) said it has signed an agreement to provide a loan
for up to $186 million in Vietnam's Hoa Hoi solar park.
A spokesman for the bank said it was the largest single-operating solar power plant in Vietnam and the largest in Southeast Asia, with an installed capacity of 257 megawatts
.
The plant has the potential to offset 123,000 tons of CO2
per year.
The solar facility will power
the cities of Quang Ngai and Nha Trang and its surroundings.
The loan was the country's first loan to Phu An Joint Stock Company
.
The company is jointly owned
by B.
Grimm Power Public Co and Truong Thanh Vietnam Group JSC.
Under the financing agreement, ADB will provide $27.
9 million in loans, a consortium of commercial banks will provide $148.
8 million, and Leading Asia's private infrastructure fund will provide $9.
3 million
.
Commercial banks include Bangkok Bank, Kasikrorn Bank, Katnakin Bank, Industrial and Commercial Bank of China and Standard Chartered Bank
.
According to ADB, green loans are designed to finance
projects that may bring environmental or climate-related benefits.
