Vietnam's DHD bags $37m loan to install 47.5MW solar plant

It will be installed on DHD’s existing 175MW Da Mi hydropower plant.

Da Nhim–Ham Thuan–Da Mi Hydro Power Joint Stock Company (DHD) has secured a $37m loan from the Asian Development Bank (ADB) for the installation of a 47.5MW peak floating photovoltaic (PV) solar power facility in Vietnam, an announcement revealed.

The new facility will be installed on the man-made reservoir of DHD’s existing 175MW Da Mi hydropower plant, pairing solar and hydro technologies.

The project will boost the share of renewable energy in Vietnam, according to ADB private sector operations department deputy director general Christopher Thieme.

The financing package includes a $17.6m loan from ADB’s ordinary capital resources, supplemented by $15m of blended concessional co-financing provided by the Canadian Climate Fund for the Private Sector in Asia and its follow-on fund, the Canadian Climate Fund for the Private Sector in Asia II. The package also includes a $4.4m parallel loan from the Leading Asia’s Private Infrastructure Fund (LEAP), supported by the Japan International Cooperation Agency through a $1.5b equity commitment.

DHD, a subsidiary of the Vietnam Electricity (EVN) Power Generation Corporation 1, currently owns and operates four hydropower plants and has a total generation capacity of 642.5 MW, about 1.7% of Vietnam’s total generation capacity.