A USD 26.7 million non-government guarantee credit agreement has been signed between Mr Remi Genevey, Director of Asia Department of French Development Agency (AFD) and Mr Nguyen Xuan Nam, Deputy General Director of Electricity of Vietnam (EVN). This is a loan funded by AFD for the whole value of EPC (Engineering, Procurement and Construction) contract of Se San 4 Solar Power Plant with a capacity of 49 MWp, on the land of Se San 4 Hydropower Plant in Gia Lai Province. The signing ceremony was held at the headquarters of AFD in Paris.
Beside the Se San 4 Solar Power Plant, AFD has committed to fund a non-government guarantee credit for extending Yaly hydropower plant; planning of power grids construction in some southern areas under the Southern Power Corporation for releasing the power from renewable Energy projects. AFD also is considering to continuously fund for extending Hoa Binh hydropower plant.
Agency is a French public institution that implements France’s policy in the areas of development and international solidarity. AFD contributes to public investments in the Energy sector, with a particular focus on renewable energies as well as on Energy efficiency. AFD currently is the only sponsor of power projects of EVN with non-government guarantee loans. The first non-government guarantee loan of AFD for EVN was signed in 2010 as USD 100 million for Huoi Quang hydropower plant.
(Source: Vietnam Energy)