Electricity company Trungnam Group plans $500-mln bond issuance

By Dat Nguyen   September 22, 2022 | 08:35 pm PT
Electricity company Trungnam Group plans $500-mln bond issuance
Solar panels seen at Trung Nam – Thuan Nam solar power plant, the largest of its kind in Vietnam, developed by Trungnam Group. Photo courtesy of Trungnam Group
Energy developer Trungnam Group plans to issue US$500 million worth of bonds in the next three years to fund a number of projects until 2030.

It is planning onshore and near-shore wind power plants that will almost triple its renewable energy capacity by 2026 from the current 1.6 gigawatts of mostly wind and solar energy, its management told Bloomberg.

It will also bid for a 1,500-megawatt liquefied natural gas power project in the central province of Ninh Thuan next year.

One of Vietnam’s largest renewable energy developers is mulling setting up a pilot green hydrogen plant with a capacity of 120-200 megawatts by 2025.

Trungnam became the first private company to build a 500-kilovolt transmission grid in Ninh Thuan, and planned to donate it to the country, but the lack of legal provisions to support the transfer of a private asset to the government has put the deal on hold.

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