Tra Vinh – Vietnam | Wind - Climate Fund Managers

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Vietnam is one of the fastest-growing economies in the world, and with one of the strongest wind resources in the Southeast Asian region, making it a very attractive renewable energy investment destination.

Since September 2017, Climate Investor One (CI1) (with support from the European Commission) has funded the development of the Tra Vinh project, a 48 MW near-shore wind project located in South Vietnam approximately 130 km from Ho Chi Minh City.

Our Development Partner

ST International

We Invest

USD 71.5 million

Expected Construction Equity Funding

Estimated Project Impact

48 MW additional capacity
181 GWh/year clean electricity
69 983 tCO2eq/year emissions avoided
350 construction jobs
127 822 people reached

Funding Rationale

Climate Investor One’s investment will be used to finance the construction of the project, which will support the government’s ambition of reducing reliance on fossil fuels, hydropower and energy imports through the implementation of renewable energy projects.

As electricity demand in Vietnam is significantly increasing, the government has stipulated ambitious goals for the wind and solar sector and in 2016 revised Vietnam’s renewable energy targets. Targeted capacity for wind is 800 MW by 2020, 2,000 MW by 2024 and 6,000 MW installed by 2030.

To reach these goals the government will need to take measures to expedite wind development. Thus, it is necessary to encourage independent power producers to enter the market with new sources of funding to finance the country’s transition.

Contract Signature Date

February 2019

Commercial Operations Date

October 2021

Region

Southeast Asia

Country

Vietnam

Business Model

IPP

Technology

Nearshore Wind

Environmental & Social Category

B+

Sector

Renewable Energy

E&S Context

The E&S risk of the project has been classified as category B+ (in accordance with CI1’s risk categorisation), which is equivalent to International Finance Corporation (IFC) Category B.

An environmental impact assessment (EIA) to meet Vietnamese requirements has been completed and approved. An IFC-compliant environmental and social impact assessment has been completed. Land acquisition is being undertaken as per Vietnamese law by the government. All the IFC Performance Standards are triggered except for PS7 (Indigenous Peoples).

An environmental and social management plan has been prepared and will be implemented for the construction phase. A community development programme will guide a series of interventions for delivering positive impacts in the local area.

Disclosures

Here you can find and download all the relevant disclosure documents for this project:

Project Overview Project Overview Project Overview Project Location Project Location Project Location Tra-Vinh-Vietnam

Legal

Contact Details

Korte Vijverberg 4, 2513 AB, The Hague, The Netherlands

+31 (0)70 204 52 05 [email protected]

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