Loan deal set for renewable energy projects

Friday, Aug 21, 2020 17:30

Solar panels are installed at the Tra Vinh Solar power plant. VietinBank agreed to provide loan for Trung Nam Group developing the project in Tra Vinh Province. Photo courtesy Trung Nam Group

The Viet Nam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Trung Nam Group have signed a comprehensive co-operation deal providing financial sources for renewable energy projects.

A source from Trung Nam said the deal, which was agreed last week, will continue funding for the ongoing building of wind and solar power projects as well as infrastructure projects in the north, central region and the Mekong Delta river region.

Following the deal, VietinBank agreed to provide loans for Trung Nam Group to develop the 165MWp (megawatts) Tra Vinh solar power plant.

The plant, which began construction in January of 2019 on 171ha, will cost VND3.5 trillion (US$152 million) and was designed with a total capacity of supplying 250 million KWh per year.

According to the group, VietinBank is seen as a key bank for renewable energy and construction projects of Trung Nam Group since 2016.

The Group has built solar and wind power plants on a total of 900ha in the south-central Ninh Thuan Province, supplying nearly a billion of KWh per year for the national grid. — VNS

Comments (0)