Shinhan Bank Vietnam leads syndicated term loan facility for hydropower project
Shinhan Bank Vietnam has been the lead arranger for a syndicated term loan facility to finance the Tra Khuc 2 hydropower project in the central Vietnam province of Quang Ngai.
The syndicated term loan facility agreement was signed on Tuesday at Shinhan Bank Vietnam's head office in Ho Chi Minh City.
The loan has a total committed value of up to VND740 billion ($29.19 million), with the participation of three banks: Bank of China (Hong Kong) - Ho Chi Minh City branch, Woori Bank Vietnam and Shinhan Bank Vietnam, which acts as the loan’s lead bank and collateral management agent.

The syndicated term loan facility agreement to finance the Tra Khuc 2 hydropower project was signed at Shinhan Bank Vietnam's head office in Ho Chi Minh City, November 12, 2024. Photo courtesy of Shinhan Bank.
The 30MW Tra Khuc 2 hydropower project is developed by Tra Khuc 2 Hydropower JSC – a subsidiary of REE Energy.
Covering more than 253 hectares of land and river bed in Son Ha district, it is expected to generate an average of 120.51 million kWh/year.
The project, once put into operation, will contribute to supplementing the national grid and directly supplying electricity to Quang Ngai province.
It will also contribute to improving infrastructure such as roads and power grids in the construction area, creating more jobs and increasing income for local people.
Shinhan Bank Vietnam, REE Energy and other REE subsidiaries have long established credit relationships through various bilateral loans. However, this is the first time Shinhan Bank Vietnam has been authorized to arrange a large-scale syndicated loan, with the established consortium of Bank of China (Hong Kong) - Ho Chi Minh City branch and Woori Bank Vietnam to finance for a new hydropower project of the group.
After passing the appraisal and high standard analysis procedure with many criteria from the lenders, the project has proven its feasibility for implementation, Shinhan Bank said in a release.
"In addition, the investor, Tra Khuc 2 Hydropower JSC which is a member of REE Energy, has demonstrated a level of prestige and stable financial health qualified to implement the project in the long term," the Korean bank stated.
The Vietnamese government recently approved the Power Plan VIII specifying the national power development structure for the period 2021-2030, with a vision to 2050, under which hydropower still occupies a big portion (19.5% as of 2030).
Tra Khuc 2 hydropower project is implemented in line with the government's orientation, contributing to clean and sustainable renewable energy sources to the national power structure.
With the commitment to jointly finance this project, Shinhan Bank Vietnam, Bank of China (Hong Kong) - Ho Chi Minh City Branch and Woori Bank Vietnam demonstrate their respect for ESG commitments and affirm their long-term commitment and companionship with the sustainable development of the Vietnamese economy.
Shinhan Bank Vietnam is a subsidiary of Shinhan Bank Korea which is an affiliate of Shinhan Financial Group (SFG). SFG is a leading financial holding company in South Korea and listed on both the Korea Exchange (KRX) and New York Stock Exchange (NYSE).
Both SFG and SHBKR have been named domestic systemically important banks (D-SIBs) by the Financial Services Commission for 2025.
In Vietnam, Shinhan Bank’s history can be traced back to 1993 when it first opened the representative office in HCMC. Over the history of 30 years, the bank has built a broad network across Vietnam.
Shinhan Bank has been offering a diversified portfolio of tailored corporate and consumer banking products and solutions. Simultaneously, the bank has also strengthened digital transformation process by applying advanced technologies to products/services, in order to bring “More friendly, More secured, More creative” financial solutions to customers, towards the target of “Becoming the leading digital bank in Vietnam in 2030”.
With the mission of “A better world through finance”, the creditor has constantly contributed to Vietnam’s socioeconomic development not only in terms of business operation, but also through meaningful social activities carrying profound humanity value.
Shinhan Bank contributed more than VND81 billion ($3.2 million) to social activities from 2007 until the end of 2023. Particularly in 2023, it contributed over VND4.8 billion, with 492 hours for social activities and 5,563 of employee’s participation times.
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