Lotus Wind Power Project #46380

Signing of a loan agreement for the Quang Tri Province onshore wind power project in Vietnam (Private Sector Investment Finance) JICA's first project finance loan for wind power project in Vietnam

2021-05-27

JICA

Japan International Cooperation Agency (JICA) has signed a facility agreement on May 21, 2021 to provide up to US$25 million for an onshore wind power generation project with a total capacity of 144 MW in Quang Tri Province, Vietnam. Power Construction Joint Stock Company No. 1, a major local company in Vietnam in the field of renewable energy development and electromechanical works, and RENOVA, Inc., a leading renewable energy IPP developer in Japan, are sponsors to the project. Three project companies (Lien Lap Wind Power Joint Stock Company, Phong Nguyen Wind Power Joint Stock Company, and Phong Huy Wind Power Joint Stock Company) are the borrowers. The loan is co-financed by Asian Development Bank (ADB) and Export Finance Australia under the Australian government.

$254 mln wind power project generates annual ‘positive impacts’ worth $14 mln: ADB

2024-01-30

The Investor

The 144-megawatt, $254.2 million Lotus Wind Power project has contributed $89.6 million to Vietnam’s GDP during construction and generated benefits of $13.9 million annually since it became operational.

Lotus Wind Power Project in Viet Nam Signed

2021-05-27

On 27 May, ADB signed a $116 million green loan with Lien Lap Wind Power Joint Stock Company (Lien Lap), Phong Huy Wind Power Joint Stock Company (Phong Huy), and Phong Nguyen Wind Power Joint Stock Company (Phong Nguyen) to build and operate three 48-megawatt (MW) wind farms, totaling 144 MW, in Quang Tri Province, Viet Nam.The loan forms part of a $173 million green loan project financing package arranged and syndicated by ADB as mandated lead arranger and bookrunner. It is ADB’s first financing of a wind power project in Viet Nam, and is certified by the Climate Bonds Initiative, which administers the international Climate Bond Standard and Certification Scheme. The ADB loan comprises a $35 million A loan directly funded by ADB and an $81 million syndicated B loan.ADB mobilized long-term US dollar limited-recourse financing from commercial banks and other development finance institutions that were unavailable locally