REE Wind Power 2 (IFC-44653)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Binh Thuan and Ninh Thuan provinces
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 16, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
THUAN BINH WIND POWER JOINT STOCK COMPANY
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 84.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 18, 2024

Disclosed by Bank Mar 16, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank document, " the proposed investment is an IFC A loan and mobilization of up to US$60 million to Thuan Binh Wind Power Joint Stock Company (TBW or the Company), the proceeds of which will fund the construction of two wind power projects in Vietnam with a total capacity of 54.2 megawatts (MW), namely

(a) the 25.2MW Phu Lac 2 (PL2 project) project located in Binh Thuan province; and

b) the 29MW Loi Hai 2 (LH2 project) project located in Ninh Thuan province (collectively the Project)". 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Phu Lac 2 and Loi Hai 2 projects are expected to cost (collectively) approximately $84 million, which would be funded by

(i) a 12-year senior loan of up to $60 million from IFC’s own account and from mobilization; and

(ii) up to $24 million from the Company.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Thuan Binh Wind Power Joint Stock Company was formed in 2009 as an SOE but was subsequently privatized and has currently four shareholders:

1/Refrigeration Electrical Engineering Corp. (REE): 50%; major shareholder;

2/Da Nhim-Ham Thuan-Da Mi Hydro Joint Stock Company (DHD); 20% shares; 

3/Thac Mo Hydro Joint Stock Company (TMH); 20% shares; and

4/Power Engineering Consulting Joint Stock Company 3 (PECC 3); 10% shares.

The project is also under "GIZ Energy Support Programme"

http://gizenergy.org.vn/en/company/thuan-binh-wind-power-joint-stock-company

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Da Nhim-Ham Thuan-Da Mi Hydro Joint Stock Company Parent Company -
- - - - Power Engineering Consulting Joint Stock Company 3 (PECC3) Parent Company -
- - - - Refrigeration Electrical Engineering Corp. (REE) Parent Company -
- - - - Thac Mo Hydro Joint Stock Company Parent Company -
- - - - THUAN BINH WIND POWER JOINT STOCK COMPANY (TBW) Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/ Project Contact

Thuan Binh Wind Power Joint Stock Company
Bui Van Thinh
CEO
+84623822024
thinhbv@tbw.com.vn
Lac Tri Hamlet, Phu Lac Commune, Tuy Phong District, Binh Thuan Province
http://www.tbw.com.vn

2/ IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

3/ Local Access for Project Documentation

 Lac Tri Hamlet, Phu Lac Commune, Tuy Phong District

Binh Thuan Province, Vietnam    

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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