According to the bank's website, "the proposed investment is for IFC to provide an up to US$45 million senior loan to VNGH to acquire the two subprojects". These subprojects include the Mui Ne Solar and VSP II Solar. Complete details for these two subprojects below:
(i) Mui Ne Solar: 40 MW solar subproject in Mui Ne ward, Phan Thiet city, Binh Thuan province with a total area of 38.5 ha. The Mui Ne subproject comprises an administrative office, an operation house, a roughly 100m-long 110 kV transmission line connecting the substation with the national power grid, a set of 110,000 solar panels and 13 inverters. The Mui Ne subproject started generating electricity in May 2019 and is currently operated by Duc Thanh-Mui Ne Joint Stock Company (DTMN). The proposed investment will fund the acquisition by VNGH of a 49.5% indirect equity interest in DTMN whose sole asset is the operational 40 MW Mui Ne solar PV project, via the acquisition of a 49.5% equity interest in DTMN’s holding company, Pacifico Energy Vietnam Joint Stock Company (PEV).
(ii) VSP II Solar: 33.1 MW VSP II solar subproject in Vinh Hao commune, Tuy Phong district, Binh Thuan province with a total area of 33.7 ha. The VSP II subproject comprises an administrative office, an operation house, a roughly 2.5 km-long 110 kV transmission line connecting the substation to the national 110 kV Phu Lac-Ninh Phuoc transmission line, and other subproject components. The Commercial Operation Date (COD) of VSP II subproject was on 18th June 2019 and currently under management and ownership of VSP Binh Thuan II Solar Power Joint Stock Company (VSP). The proposed investment will fund the acquisition by VNGH of a 99% direct equity interest in VSP, whose sole asset is the operational VSP II solar project.
Contact Person: Quang H. Nguyen
Company Name: VN Green Holding Pte. Ltd
Address: p/o 1501 Me Linh Point Tower, 2 Ngo Duc Ke, Ben Nghe, Dist 1, HCMC
Phone: +84 28 3823 9355
Facsimile: +84 28 3823 9366
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