Phu Yen JSC is owned by B.Grimm Power Public Company Limited and Truong Thanh Vietnam Group Joint Stock Company (TTVN).

The financing comprises a US$27.9 million loan funded by ADB, a US$148.8 million syndicated loan (B loan) funded by commercial banks with ADB as Lender of Record, and a US$9.3 million loan provided by Leading Asia’s Private Infrastructure Fund (LEAP).

The project is the largest single operating solar power plant in Vietnam, one of the largest in Southeast Asia, and will help to remove 123,000 tonnes of carbon dioxide from the atmosphere annually.

The B loan is the first green B loan in Asia and the Pacific region certified by the Climate Bonds Initiative, and one of the largest B loans ever in Vietnam. Green loans are used to fund new or existing projects that deliver environmental or climate-related benefits climate-related benefit.

“This project will support the rapid development of Vietnam’s solar power capacity, advancing the country’s low-carbon growth goals, and, we hope, catalyse further commercial bank financing for renewable energy,” said Infrastructure Finance Division Director for East Asia, Southeast Asia, and the Pacific at ADB's Private Sector Operations Department Jackie B. Surtani.

The project is the largest single operating solar power plant in Vietnam, one of the largest in Southeast Asia, and will help to remove 123,000 tonnes of carbon dioxide annually. The power plant will directly serve the electricity demand of Quang Ngai and Nha Trang cities and surrounding areas in a region rapidly emerging as one of Vietnam’s key tourist centres.

“This transaction will support the development of clean and sustainable energy in Vietnam and help promote the green loan market in Southeast Asia,” said B.Grimm Power President Preeyanart Soontornwata.

Vietnam set to enjoy rare solar eclipse this Sunday

Vietnamese people are set to join others worldwide in enjoying the 'super rare’ solar eclipse of the decade, which is scheduled to occur this Sunday (June 21).

Conference discusses incentives for solar power growth in Vietnam

The Green Innovation and Development Centre (GreenID) hosted an online conference in Hanoi on April 11 on the second phase of the feed-in-tariff (FIT 2) and policies for the development of solar power in Vietnam after 2020.

100 customers install rooftop solar power system for living demand

(BGO) – According to Bac Giang Electricity Company, Bac Giang province has 100 customers who installed the rooftop solar power system for living demand, including 18 families in Lang Giang district, 16 in Viet Yen district, 17 in Yen Dung district and 49 in Bac Giang city.

ADB provides loan for 50MW solar power plant in Tay Ninh

The Asian Development Bank (ADB) has signed a 37.8 million-USD 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.

Vietnam to lower tariffs for solar power

The Ministry of Industry and Trade has proposed a new feed-in tariff 32 percent lower than the earlier incentive rate.

Source: NDO