ADB, Phu Yen JSC Sign Green Loan for 257-MW Solar Power Project

The Asian Development Bank (ADB) and Phu Yen TTP Joint Stock Company (Phu Yen JSC) signed a US$186 million loan to develop and operate a 257-MW solar power plant in Hoa Hoi commune, Phu Hoa district, Phu Yen province. This is the first certified green loan in Vietnam.

Phu Yen JSC is owned by B.Grimm Power Public Company Limited and Truong Thanh Vietnam Group Joint Stock Company (TTVN).

The financing comprises a US$27.9 million loan funded by ADB, a US$148.8 million syndicated loan (B loan) funded by commercial banks with ADB as lender of record, and a US$9.3 million loan from Leading Asia’s Private Infrastructure Fund (LEAP). The syndicated loan is the first green B loan in Asia and the Pacific to be certified by the Climate Bonds Initiative, and one of the largest such loans yet mobilized in Vietnam.

L.A (Vietnam Business Forum)