IFC Considers $60M Loan for Wind Power Firm in Vietnam

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is considering a loan of $60 million to Vietnam’s state-owned Thuan Binh Wind Power JSC, foreign media reported. The senior, secured corporate loan will be used to finance the construction and development of two wind energy projects. It is expected to receive board approval by April 16. The two projects are the 25.2-megawatt (MW) Phu Lac 2 wind farm in central Binh Thuan province and the 29-MW Loi Hai 2 wind farm in central Ninh Thuan province. The first phase of Phu Lac 2 wind power project has a total capital of $49 million, in which the German National Bank (KfW) provided $42 million. The construction of the two projects’ main components is expected to start in March and to be completed in eight months. (Foreign Media, pinsentmasons, dealstreetasia)