28 May 2021
Export Finance Australia is providing a US$32 million ($41 million) loan as part of a green syndicated finance facility to build onshore wind farms in Vietnam.
The loan facility will enable the development, construction, and operation of three wind farms with a total capacity of 144MW located in the Quang Tri province in the central highlands of Vietnam.
Managing Director and CEO of Export Finance Australia, Swati Dave, said Export Finance Australia was actively seeking opportunities to contribute to the development of sustainable infrastructure in the region.
“This financing is a great example of what Export Finance Australia can support under its Indo-Pacific infrastructure mandate,” Ms Dave said.
“Australia has significant industry capability in renewables, including export and financing capability.
“Support for this project builds upon the 2019 joint statement by the Prime Ministers of Australia and Vietnam, which recognised our mutual interest in a prosperous and secure Indo-Pacific, and will contribute to the goal of our forthcoming Enhanced Economic Engagement Strategy of doubling two-way investment.”
Australia’s Ambassador to Vietnam, Robyn Mudie, said: “This project demonstrates that Australia is ready to contribute across the full range of Vietnam’s future energy needs.”
Export Finance Australia is co-financing the project alongside the Asian Development Bank, the Japan International Cooperation Agency and private financiers.
Ms Dave, added, “This is an important step in paving the way for future commercial infrastructure opportunities for Australian businesses in Vietnam.
“We are working in close cooperation with international financing partners, the Asian Development Bank and Japan International Cooperation Agency.
“These are important development partners for Australia that leverage significant financial resources and expertise to support sustainable development in the region.”
Contact: Nic Frankham, Head of Corporate Affairs