This project is located in the southern province of Phu Yen's Hoa Hoi commune. It is the largest single operating solar power plant in Vietnam, as well as one of the largest in Southeast Asia. Once completed, it will save the country from emitting about 123,000 tons of carbon dioxide each year. It is reported that this power plant will deliver electricity to Quang Ngai, Nhu Tang cities and surrounding areas.
The financing includes a $27.9m loan funded by ADB, a $148.8m syndicated loan funded by commercial banks and a $9.3m loan from Leading Asia’s Private Infrastructure Fund (LEAP). The syndicated loan is the first green B loan in Asia Pacific to be certified by the Climate Bonds Initiative, also one of the largest this kind mobilised in Vietnam up to now, a news release of ADB said.
Phu Yen TTP Joint Stock Company (Phu Yen JSC) is the borrower, owned by B Grimm Power Public Company Limited and Truong Thanh Vietnam Group Joint Stock Company (TTVN).