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ADB finances US$ 37 million for a floating solar project on reservoir of Da Mi HPP

ADB finances US$ 37 million for a floating solar project on reservoir of Da Mi HPP - 

On October 2, 2019, in Hanoi, the Asian Development Bank (ADB) signed a loan agreement worth 37 million USD with Da Nhim - Ham Thuan - Da Mi Hydropower Joint Stock Company (DHD) to finance a floating solar power project, with a capacity of 47.5 MWp on the current reservoir of Da Mi Hydropower Plant.

The signing ceremony of the loan agreement for a floating solar power project on reservoir of Da Mi Hydropower plant (Photo: JICA)

The financing package includes USD 17.6 million from regular ADB loan, USD 15 million from the Canadian Climate Change Fund for the Private Sector in Asia and the Canadian Climate Change Fund for the Private Sector in Asia II.

The financing package includes a parallel loan worth USD 4.4 million from the Asia's Leading Private Sector Infrastructure Fund (LEAP), supported by the Japan International Cooperation Agency (JICA) through a commitment to invest $ 1.5 billion in equity.

This is the first large floating solar power project in Vietnam and also the largest in Southeast Asia.

Da Nhim-Ham Thuan-Da Mi Hydropower Joint Stock Company belonging to Power Generation Corporation I (Genco 1).

At the present, the company owns and operates four hydropower plants with a total capacity of 642.5 MW, equal to about 1.7% of the total generating capacity of Vietnam power system, such as Da Mi (175 MW), Ham Thuan (300 MW), Da Nhim (160 MW), Song Pha (7.5 MW).

VietnamEnergy.vn

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