Ninh Thuan wind farm

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This project entails the development of a 88 MW wind farm in Ninh Thuan province, Viet Nam. The power plant will help Viet Nam reach its clean energy and climate action targets by reducing the emissions of carbon dioxide with about 215,000 tons annually. The project company is BIM Wind Power Joint Stock Company, sponsored by ACEN Corporation and BIM Group. The consortium in September 2021 commenced operations for the project before obtaining debt financing due to the tight timeline to obtain a PPA under the feed-in tariff (FIT) scheme with state-owned Vietnam Electricity (EVN). The FIT price was at $0.0085 per kWh for onshore wind, which expired in November 2021. Total investment of the project stands at $155 million, of which $107 million of debt is provided by the following lenders - ADB with $25 million, JICA with $25 million, Hong Kong Mortgage Corporation Limited with $13 million, Sumitomo Mitsui Banking Corporation with $17 million, ING Bank with $18 million and Cathay United Bank with $9 million. The project financing is arranged and syndicated by ADB as mandated lead arranger and bookrunner. Financial close took place on December 21, 2022. https://www.adb.org/news/adb-bim-wind-sign-107-million-financing-package-support-wind-energy-viet-nam https://www.ijglobal.com/articles/168587/vietnam-onshore-wind-lenders-advisers-revealed?utm_medium=social+media+organic&utm_source=linkedin&utm_campaign=ij_contentshowcase_2022-11-22 https://www.jica.go.jp/english/news/press/2022/20221228_30.html