ADB agrees $107 mln loan for Vietnam’s BIM Wind
The Asian Development Bank (ADB) has signed a $107 million loan for BIM Wind Power JSC’s 88-megawatt wind farm in Ninh Thuan province on Vietnam’s south-central coast.
The power plant is able to offset about 215,000 tons of carbon dioxide annually, ADB said Wednesday.
The loan, arranged and syndicated by ADB as mandated lead arranger and bookrunner, comprises $25 million from the bank’s ordinary capital resources, $25 million from Japan International Cooperation Agency (JICA), $13 million from Hong Kong Mortgage Corporation, $17 million from Sumitomo Mitsui Banking Corporation, $18 million from ING Bank, and $9 million from Cathay United Bank.

A BIM Wind Power JSC wind farm in Ninh Thuan province, south-central Vietnam. Photo courtesy of the firm.
“Energy demand in Vietnam has grown rapidly even during the pandemic, and it is crucial that this demand be met through clean energy that will drive sustainable economic growth,” Jackie B. Surtani, ADB Private Sector Operations Department Infrastructure Finance Division director for East Asia, Southeast Asia, and the Pacific, said in a release.
He added, “This project is a crucial step toward Vietnam’s resilience and ongoing recovery by further expanding the country’s renewable energy mix and contributing to its net-zero targets.”
ADB will also administer an additional $5 million grant from the Goldman Sachs and Bloomberg Philanthropies-backed Climate Innovation and Development Fund to help de-risk the investment.
According to the bank, the grant will be used for initiatives to mitigate environmental and social safeguards risks like reducing shadow flicker impact on residents in the project locality and the preservation of wildlife habitat.
“We have worked very hard with ADB and other lenders to meet international standards, especially in regards to environment, social, and governance,” said BIM Wind Power CEO Doan Quoc Huy.
The firm is jointly owned by ACEN Corp., through its subsidiary ACEN Vietnam Investments, and Vietnam’s Hanoi-headquartered BIM Group through its subsidiary BIM Energy Holding.
ACEN and BIM Group have been developing renewable energy projects since 2019. The former has 3,700 megawatts of energy capacity in operation and under construction in Australia, India, Indonesia, the Philippines, and Vietnam.
ACEN is the energy unit of Ayala Corporation, one of the largest and most diversified conglomerates in the Philippines.
Meanwhile, BIM Group is one of the largest private conglomerates in Vietnam with a long-established history of 30 years with interests in real estate, hospitality, agriculture, aquaculture, renewable energy, and consumer services.
BIM Energy Holding is among the top renewable platforms in Vietnam with a gross operation capacity of close to 800 MW.
Japan's JICA says it encourages further development of Vietnam's renewable energy sector through the above-mentioned BIM Wind Power project. JICA has been supporting this development through other projects funded by the international agency and administered by ADB.
- Read More
VEIL boosts real estate holdings to 22% on Vietnam market confidence
Vietnam Enterprise Investments Limited (VEIL), the largest foreign-managed equity fund in Vietnam, has raised its allocation to real estate stocks to 22% of its portfolio, equivalent to $368 million, as of May, according to a recent disclosure.
Real Estate - Wed, June 18, 2025 | 3:56 pm GMT+7
Iran-Israel conflict to drive up fertilizer prices: Petrovietnam Ca Mau Fertilizer exec
The CEO of Petrovietnam Ca Mau Fertilizer JSC (PVCFC) has revealed that the orders the company received have surpassed its production capacity, signaling continued positive performance in the second half of the year and confidence in meeting the full-year targets.
Companies - Wed, June 18, 2025 | 3:29 pm GMT+7
Draft parliament resolution: A breakthrough for Vietnam's international financial center ambition
Tran Thuy Ngoc, deputy general director, financial services industry leader at Deloitte Vietnam, provides an insight into the draft resolution on Vietnam’s International Financial Center (IFC) which is scheduled to be endorsed by the legislature on June 27.
Consulting - Wed, June 18, 2025 | 12:37 pm GMT+7
Vietnam budget carrier Vietjet places new order for 100 A321neo aircraft
Vietjet and aircraft manufacturer Airbus on Tuesday announced a major new order for 100 A321neo aircraft, with the potential to add another 50 in the future.
Companies - Wed, June 18, 2025 | 11:37 am GMT+7
FDI yet to create high added value in Vietnam: legislator
Foreign direct investment (FDI) has not yet created high added value, primarily focusing on assembly and processing, said Nguyen Ngoc Son, a lawmaker from the northern province of Hai Duong.
Economy - Wed, June 18, 2025 | 9:19 am GMT+7
Trungnam Group subsidiary okayed as investor of $148 mln industrial park project in central Vietnam
A subsidiary of Vietnamese private conglomerate Trungnam Group has been approved as the investor of the 378-hectare Ca Na Industrial Park-Phase I project in the south-central province of Ninh Thuan.
Industrial real estate - Wed, June 18, 2025 | 8:00 am GMT+7
Deputy PM requests strong reforms of state-owned enterprises
Deputy Prime Minister Nguyen Chi Dung has asked for bold and strategic reforms to unlock the full potential of state-owned enterprises (SOEs), requesting a clear shift in mindset and approach to governance, investment and development.
Companies - Tue, June 17, 2025 | 11:44 pm GMT+7
Petrovietnam subsidiary PTSC hands over 33 offshore wind power foundations to Danish giant Orsted
The recent handover of 33 foundations manufactured by Petrovietnam Technical Services Corporation (PTSC) to an offshore wind power project of Orsted has been recognized as an outstanding work of state-owned Petrovietnam.
Companies - Tue, June 17, 2025 | 11:35 pm GMT+7
Energy Asia 2025 kicks off in Malaysia
Energy Asia 2025 - a premier thought leadership and business advocacy forum, championing Asia’s pivotal role in the global energy transition - kicked off in Kuala Lumpur, Malaysia, on Monday.
Southeast Asia - Tue, June 17, 2025 | 11:29 pm GMT+7
Indonesia to start operating first ocean power plant in 2028
Indonesia’s Energy and Mineral Resources Ministry has announced that construction of the country's first ocean power plant will begin soon, with operations targeted to start in 2028.
Southeast Asia - Tue, June 17, 2025 | 11:27 pm GMT+7
Provincial police chief appointed chairman of Vietnam's telecom giant MobiFone
The Ministry of Public Security has appointed Major General Truong Son Lam, director of Ben Tre province's Police Department, as chairman of MobiFone's board of members.
Economy - Tue, June 17, 2025 | 10:14 pm GMT+7
Trump family to receive $5 mln in license fees for mega golf course development in Vietnam
The Trump family business is set to receive $5 million in license fees for a mega golf course complex in the northern Vietnam province of Hung Yen, according to a financial disclosure report released by the U.S. Office of Government Ethics.
Real Estate - Tue, June 17, 2025 | 9:26 pm GMT+7
Vietnam continues to drill oil discoveries, helping to ensure national energy security: broker
Vietnam has been consistently discovering oil in wells across both producing and developing fields, which, according to leading broker Vietcombank Securities (VCBS), will help ensure national energy security amid a rapid decline in domestic gas supplies.
Economy - Tue, June 17, 2025 | 5:08 pm GMT+7
Chinese companies seek to further partner with Vietnam Electricity
Several Chinese companies met with state utility Vietnam Electricity (EVN) between May 27 and June 12, seeking more cooperation opportunities.
Companies - Tue, June 17, 2025 | 3:50 pm GMT+7
Unilever to expand investment capital at southern Vietnam plant to $105 mln
Unilever Vietnam plans to raise the investment capital of its factory in Ho Chi Minh City, a southern metropolis, to VND2.7 trillion ($104.5 million), according to a recent environmental impact assessment report.
Industries - Tue, June 17, 2025 | 2:45 pm GMT+7
VAT in Vietnam cut to 8% for July 2025-Dec 2026 period
The National Assembly, Vietnam's legislature, has reduced the VAT rate from 10% to 8% for goods and services from July 1, 2025 to December 31, 2026.
Economy - Tue, June 17, 2025 | 2:13 pm GMT+7