B.Grimm Viet Nam Solar Power Project (Dau Tieng Project) (ADB-54013-001)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Dau Tieng
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
  • Asian Development Bank (ADB)
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
Jun 10, 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
Dau Tieng Tay Ninh Energy 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
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)
$ 160.50 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)
$ 160.50 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.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 29, 2024

Disclosed by Bank Jun 14, 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's website, the project "will be some of Viet Nam's first independent power producer (IPP) renewable energy projects. Less than 1% of Viet Nam's electricity capacity comes from wind and solar energy and rapid scaling up of Viet Nam's solar capacity will demonstrate to the Government of Viet Nam that variable renewable energy capacity can help to meet the country's rapidly growing demand for energy."

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The ADB categorized the project E&S risks as follows -

Environment: B
Involuntary Resettlement: B
Indigenous Peoples: C

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
<table> <tbody> <tr> <td>4075</td> <td>Loan</td> <td>Ordinary capital resources</td> <td align="right">USD 24.50 million</td> <td>Committed</td> </tr> <tr> <td>8400</td> <td>Loan</td> <td>Leading Asia's Private Infrastructure Fund (LEAP)</td> <td align="right">USD 8.00 million</td> <td>Committed</td> </tr> <tr> <td>CF100</td> <td>B-Loan</td> <td>Other</td> <td align="right">USD 128.00 million</td> <td>Committed</td> </tr> </tbody> </table>
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.

As stated by the ADB, the borrower, Dau Tieng Tay Ninh Energy Joint Stock Company, was established in 2018 to develop, build, and operate the project. DTE will be fully owned by B.Grimm. B.Grimm, established in 1993, is one of the largest private power generation companies among Thailand’s small power producer operators. As of October 2020, B.Grimm had total generating capacity of 3.0 GW  from a diversified portfolio including 17 gas-fired cogeneration plants, 24 solar power plants, and 3 hydropower plants. B.Grimm has also established climate targets to increase the  share of renewable energy as a percentage of installed capacity in its portfolio from 8% in 2017 to 30% in 2022. B.Grimm is ADB’s existing private sector client. It issued Thailand’s first certified climate bond in 2019 with ADB assistance.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - B.Grimm Power Public Company Limited Parent Company Energy

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.

Nath, Kiron
Private Sector Operations Department
Portfolio Management Division, PSOD

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

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How it works