Int’l Lenders Grant $107M Loan for 88-MW Wind Farm in Vietnam Ninh Thuan

The Asian Development Bank, Japan International Cooperation Agency, Hong Kong Mortgage Corporation Ltd., Sumitomo Mitsui Banking Corp., ING Bank, and Cathay United Bank have granted a financing package worth $107 million for an 88-megawatt (MW) wind power plant in Vietnam’s central Ninh Thuan province, foreign media said.

The financing is expected to support operations of the plant developed by the Philippines’ ACEN Corporation and BIM Group as well as the partners’ shared goal to aid Vietnam in reaching its climate action targets.

The Ninh Thuan wind farm came into operation in September 2021, producing 339 gigawatt-hours (GWh) and reducing 215,000 tons of CO2 emissions annually. (manilastandard.net, www.bworldonline.com, www.philstar.com, www.manilatimes.net)