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Overview

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

Commitments (Constant USD, 2023)$26,405,507
Commitment Year•2020Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamOverseas Jurisdiction•Viet NamSector•EnergyFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 1, 2020

Geospatial footprint

Map overview

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The 50MW Thinh Long Phú Yên Solar Farm in Vietnam’s Phú Yên Province. Its exact locational coordinates are: 13.0615, 109.0961 (see Phú Yên solar farm). More detailed locational information can be found at: https://www.openstreetmap.org/node/10009157772

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

State-owned Banks

  • Export-Import Bank of Thailand

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (Thai) Public Company Limited (ICBC Thailand)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Thinh Long Phu Yen Solar Power Joint Stock Company

Implementing agencies

Joint Venture/Special Purpose Vehicles

  • Thinh Long Phu Yen Solar Power Joint Stock Company

Loan desecription

ICBC and ICBC (Thailand) contribution to $38.39 million syndicated loan for 50MW Thinh Long Phú Yên Solar Farm Project

Interest type•Unknown

Narrative

Full Description

Project narrative

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

1. 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. 2. Baker McKenzie's Bangkok office was a legal adviser to the transaction.