By Dat Nguyen October 10, 2020 | 08:00 am GMT+7 VNExpressAn artist’s impression of a 257MW solar power plant backed by the Asian Development Bank (ADB) in the central province of Phu Yen. Photo courtesy of the ADB.
The Asian Development Bank (ADB) is leading a group of lenders to provide $186 million for the development of a solar power plant in the central province of Phu Yen.
The financing comprises a $27.9 million loan from the ADB, a $148.8 million syndicated loan funded by commercial banks with ADB as Lender of Record, and a $9.3 million loan provided by the Leading Asia’s Private Infrastructure Fund (LEAP).
The loan will fund a 257-megawatt power plant in Phu Hoa District. The plant will be the largest single operating solar power plant in Vietnam and one of the largest in Southeast Asia, the ADB said in a statement.
It will help reduce carbon dioxide emissions every year by 123,000 tons while directly serving the electricity demand of Quang Ngai Province and Nha Trang Town in central Vietnam as well as surrounding areas.
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