Viet Nam: Dak Lak Wind Power Project (AIIB-000509)

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
Krong Buk, Cu Ne
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 Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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."
Borrower
China Huadian Engineering Company Limited
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)
$ 100.00 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)
$ 100.00 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.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jan 23, 2024

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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 AIIB, the objective of the project is to provide long-term financing for the construction of four wind farms in Viet Nam with an aggregate installed capacity of 200MW, through two phases.
The Project will be developed through two phases: (i) Phase 1 is comprised of three 50MW sub-projects namely Krong Buk 1, Krong Buk 2, and Cu Ne 1; and (ii) Phase 2 is to develop the 50MW Cu Ne 2 sub-project.
This is a refinancing project. The Project has acquired a significant proportion of its land requirement, and civil works are at an advanced stage.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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 Bloomberg, China Huadian Engineering Co. Ltd. offers industrial engineering services. The Company contracts and serves heavy machinery, environment protection, water treatment, new energy technology, and energy technology research and service. China Huadian Engineering serves electric power, petrifaction, harbor, metallurgy, mining, civicism, and new energy fields.
Although the AIIB does not disclose information on the borrowers, they are likely to be special purpose vehicles established by China Huadian Engineering Co. Ltd. to implement the project's different phases.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - China Huadian Engineering Co Ltd Client 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.

AIIB Team Leader:

James Lok - Lead Investment Operations Specialist
Email: james.lok@aiib.org

Sponsor - China Huadian Engineering Company Limited:

Zhang Yang - Director of Strategy & Financing Dept., International Business Company
Email: zhangyang@chec.com.cn
Website: http://en.chec.com.cn/site/57EN/2023-04-28/c2c792eea22b41d184bba1f6062a208e.html

Borrowers -

Krong Buk New Energy Investment Company Limited
Krong Buk Wind Energy Company Limited
Cu Ne Renewable Energy Investment Company Limited
Cu Ne Wind Power Investment and Management Company Limited

Gao Jingxuan- Business Supervisor of Strategy & Financing Dept., International Business Company
Email: gaojx@chec.com.cn

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html

How it works

How it works