AfDB Provides $ 116 Million Loans For Wind Power Plants

By Duc Minh & nbsp29 May 2021 | 11:41 GMT + 7

A wind power plant in the central province of Quang Tri. Photo courtesy of the Ministry of Industry and Commerce.

ABD has granted loans worth 116 million dollars to three Vietnamese companies for the establishment of wind power plants in the central province of Quang Tri.

Lien Lap Wind Power JSC, Phong Huy Wind Power JSC and Phong Nguyen Wind Power JSC are jointly owned by the Vietnamese company Power Construction Joint Stock Company No.1 and the Japanese RENOVA, Inc, a developer of renewable energy.

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

According to the ADB, the plants will produce an average of 422 GWh of electricity per year, reducing CO2 emissions by 162,430 tonnes.

Jackie B. Surtani, Director of AfDB’s Infrastructure Finance Division covering East Asia, South East Asia and the Pacific, said the loans “underscore the AfDB’s commitment to help Vietnam chart a clean energy future “.

Recently, the International Finance Corporation granted 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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