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ADB provides $116 mln loans for wind power plants

By Duc Minh   May 28, 2021 | 08:41 pm PT
ADB provides $116 mln loans for wind power plants
A wind power plant in the central Quang Tri Province. Photo courtesy of the Ministry of Industry and Trade.
ABD has provided loans worth $116 million to three Vietnamese companies for setting up wind power plants in the central province of Quang Tri.

The companies, Lien Lap Wind Power JSC, Phong Huy Wind Power JSC and Phong Nguyen Wind Power JSC, are jointly owned by Vietnam’s Power Construction Joint Stock Company No.1 and Japan’s RENOVA, Inc, a renewable energy developer.

The three wind farms will have a combined capacity of 144 MW, which will increase the country’s wind power capacity by 30 percent.

According to the ADB, the plants will generate an average of 422 GWh of electricity annually, reducing CO2 emissions by 162,430 tons.

Jackie B. Surtani, director of ADB’s infrastructure finance division covering East Asia, Southeast Asia and the Pacific, said the loans "underline ADB’s commitment to helping Vietnam map a clean energy future."

Recently the International Finance Corporation provided a $57-million loan to industrial appliance maker Refrigeration Electrical Engineering Corporation for two wind power projects in the central provinces of Binh Thuan and Ninh Thuan.

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