ACEN CORP. and its partner BIM Group received a $107-million financing package from the Asian Development Bank (ADB) for their joint venture project — the 88-megawatt (MW) Ninh Thuan wind farm in south central Vietnam.
ACEN CORP. and its partner BIM Group received a $107-million financing package from the Asian Development Bank for their joint venture project — the 88-megawatt Ninh Thuan wind farm in south central Vietnam.
The Ayala-led listed energy firm said that the funding was arranged and syndicated by ADB as mandated lead arranger and bookrunner. The funding was also secured with the lending group comprised of ADB, Japan International Cooperation Agency, Hong Kong Mortgage Corp. Ltd., Sumitomo Mitsui Banking Corp., ING Bank, and Cathay United Bank.
The media release quoted ADB’s regional official as saying that the project is a crucial step for Vietnam’s resilience and recovery by further expanding its renewable energy mix and contributing to its net-zero targets.
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