Active Development AidData Chinese Aid

ICBC contributes to $38.39 million syndicated loan for 50MW Thinh Long Phú Yên Solar Farm Project (Linked to Record ID#88903)

$25.59M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Thinh Long Phu Yen Solar Power Joint Stock Company
Country	Viet Nam
Start Date	Jul 01, 2020
End Date	Jan 02, 2030
Duration	3,472 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`88700`

Grant Description

ICBC and ICBC (Thailand) contribution to $38.39 million syndicated loan for 50MW Thinh Long Phú Yên Solar Farm Project In July 2020, Thinh Long Phú Yên Solar Power Joint Stock Company — a special purpose vehicle and a wholly-owned subsidiary of Super Energy Corporation Public Company Limited — signed a $38.39 syndicated loan agreement with three banks for the 50MW Thinh Long Phú Yên Solar Farm Project.

The participants in the lending syndicate included the Export-Import Bank of Thailand, Industrial and Commercial Bank of China (Thai) Public Company Limited, and Industrial and Commercial Bank of China Limited, Hanoi City Branch. The borrowing terms are unknown. The project's purpose is to construct a 50 MW photovoltaic solar farm in Vietnam’s Phú Yên Province.

Further implementation details are unknown. This project is an extension of another ICBC-financed project captured via Record ID#88903.

📋 Staff Comments

The precise monetary value of the contributions from Industrial and Commercial Bank of China (Thai) Public Company Limited and the Hanoi City Branch of Industrial and Commercial Bank of China Limited to the lending syndicate are unknown. For the time being, AidData assumes equal contributions ($12,796,666) across the 3 members of the lending syndicate.
Baker McKenzie's Bangkok office was a legal adviser to the transaction.

📚 Sources & References

EXIM Thailand
ICBC Thai and ICBC Hanoi’s Project Financing of a Solar Farm in Vietnam
Thinh Long Phu Yen Solar Farm - Thai Exim Covered Loan
EXIM Bank signs deal for solar power plant in Vietnam
Baker McKenzie Advises EXIM Thailand
ICBC (Thai) and ICBC Hanoi on THB 1.2 billion Project Financing of a Solar Farm in Vietnam
EXIM Thailand Joins Hands With ICBC to Support Super Energy Corporation Group’s Investment In 50 MW Solar Farm in Vietnam
EXIM Thailand
ICBC Thai and ICBC Hanoi’s Project Financing of a Solar Farm in Vietnam, 50MW THINH LONG PHU YEN SOLAR PROJECT IN VIETNAM, Đầu tư dự án Nhà máy điện mặt trời Thịnh Long – AAA Phú Yên
Thailand-based Super Energy invests in solar power plant in Vietnam, Đầu tư dự án Nhà máy điện mặt trời Thịnh Long – AAA Phú Yên
Phú Yên solar farm Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.