French development agency finances 49MW Vietnam solar project

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Signing of the Credit Agreement for the Se San 4 Solar Power Plant Project between representatives EVN leader - Mr. Nguyen Xuan Nam, Deputy General Director and AFD representative - Mr. Rémi Genevey, Director of Asia Department of AFD. Credit: AFD

The French development agency AFD has signed off on a EUR24.2 million (US$26.9 million) loan for a 49MW solar project in Gia Lai Province, Vietnam, with the country's monopoly utility EVN.

The project will be built on land that is part of the Se San 4 Hydropower Plant. The government-guaranteed loan accounts for the entire EPC contract value of the PV project.

In addition to the Se San 4 Solar Power Project, AFD is also considering continuing funding for the 1,920MW Hoa Binh Hydropower Plant Expansion Project.

Nguyen Xuan Nam, deputy general director of EVN expressed appreciation for the power project loans, noting that the government is “tightening” and is moving to stop providing guarantees for EVN's power projects. 

He added: “Currently, EVN is having to diversify financial mobilization channels to meet the huge investment needs in the coming years.”

Vietnam plans to reduce feed-in tariff (FiT) rates for ground-mount and floating PV after solar capacity deployment exceeded expectations under the original subsidy by a factor of five. This comes under the third set of draft plans proposed by the Ministry of Industry and Trade (MOIT) earlier this month.

The Southeast Asian nation's largest floating PV plant also bagged funding from the Asian Development Bank this month.

Read Next

PV Tech Premium
April 30, 2021
‘Solar Module Super League’ (SMSL) member First Solar has hit a nameplate Series 6 CdTe thin film manufacturing capacity of 7.9GW in the first quarter of 2021, after ramping its second and last converted factory in Malaysia.
April 12, 2021
The April 2021 episode of the Solar Media Podcast, sponsored by Honeywell, is now available to stream, featuring lessons from Asia on how to push floating solar forward.
PV Tech Premium
March 30, 2021
In exclusive analysis for PV Tech Premium subscribers, Mark Osborne scrutinises JA Solar's plans to have 40GW of module assembly capacity by the end of this year, and how it reached that capacity.
March 17, 2021
Feed-in tariffs for new solar installations in Vietnam to fall by more than 30% following roaring success of FIT2 scheme.
PV Tech Premium
March 17, 2021
Vietnam experienced enormous growth in solar deployments in 2020, with as much as 9GW being installed as the successful FIT policy drew to a close. Edgar Gunther explores how that policy came to be so successful, and what the future holds for solar PV in Vietnam.
February 4, 2021
EDF Renewables has started construction of its first floating solar project, a 20MW installation co-located with the Lazer hydroelectric plant in south-eastern France.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021