Nhon Trach 3 and 4 Power Plant Project is the first LNG power plant project in Vietnam, of great significance in the national energy transition process, with a total investment of nearly 1.4 billion USD, with an equity/loan structure of 25/75%.
Mr. Hoang Van Quang, Chairman of PV Power's Board of Directors, said that PV Power focuses on developing electricity and choosing clean energy projects, in line with the Net Zero 2050 policy. He affirmed that the credit contract worth 521.5 million USD is the credit contract with the largest loan value to finance the Nhon Trach 3 and 4 Power Plant Project.
Speaking at the ceremony, representatives of the sponsors and insurers of the Nhon Trach 3 and 4 Power Plant Project affirmed that this is a testament to the efforts of the participating parties. At the same time, they expressed their hope that this Project will contribute to ensuring energy stability in Vietnam, bringing economic value to businesses and people.
Mr. Duong Manh Son, Deputy General Director of Petrovietnam, shared that Petrovietnam and its member units have effectively implemented many important energy projects, including the Nhon Trach 3 and 4 Power Plant Project of PV Power. He emphasized that the important milestones achieved by the project were thanks to the companionship, sharing and active cooperation from export credit agencies such as KSURE and SERV, along with support from major banks such as Citi and ING.
PV Power - a member of Petrovietnam, established on May 17, 2007, currently owns and operates 7 power plants with a total capacity of over 4,205MW. PV Power has a credit rating of BB+ from Fitch Ratings and is in the Top 50 Best Listed Companies (Forbes) and Top 100 Sustainable Businesses (VBCSD).
Citi - a global bank with over 200 years of history, operating in nearly 100 markets, is the first American bank in Vietnam to provide financial services to businesses since 1994.
Over the past 30 years, Citi Vietnam has actively contributed to the economic development of Vietnam, becoming a trusted financial advisor, trusted by corporations, financial institutions as well as the largest multinational companies in Vietnam. Citi has coordinated and arranged nearly 12 billion USD of long-term capital for infrastructure development projects and increased the scale of operating capital for customers in Vietnam.
ING is a global financial institution with a strong base in Europe, providing banking services through ING Bank. Established in 2012, ING Bank Hanoi office with more than 1,000 experts provides services such as lending, corporate finance and financial market solutions. ING Vietnam plays an important role in financing key energy projects, contributing to sustainable development.
