Signing Credit Agreement for Se San 4 SPP

31/10/2019 09:54:58 - views: 490

On October 28, 2019, at the headquarters of the French Development Agency (AFD) in Paris, France, was held a ceremony to sign the Credit Agreement for the Se San 4 Solar Power Project (SPP) between Mr. Nguyen Xuan Nam, Deputy General Director of Electricity of Vietnam (EVN) and Mr. Rémi Genevey, Director of Asia Department of French Development Agency (AFD).
 

The singing cerymony of he Credit Agreement for the Se San 4 Solar Power Project.
 
The loan of 24.2 million EUR is a non-government guarantee credit funded by AFD for the whole value of EPC contract of Se San 4 SPP with a capacity of 49 MWp, on the land of Se San 4 Hydropower Plant in Gia Lai Province.
 
Beside the Se San 4 SPP, AFD has committed to fund a non-government guarantee credit for extending Yaly hydropower plant and depending power grids in some areas of the southern power corporation for release the power of renewable energy projects, and AFD also is considering to continuously fund for extending Hoa Binh hydropower plant.
 
Speaking at the signing ceremony, Mr. Nguyen Xuan Nam highly appreciated the support and cooperation of AFD in arranging non-government guarantee loans for the power projects, especially in the context of public ceiling debt, the Government is tightening and moving to completely stop providing guarantees for power projects of EVN. Currently, EVN must diversify financial mobilization channels to meet the huge investment needs in the coming years.
 
AFD is an international financial institution operating for non-profit of the French Government, it supplies loans and grant aids to state-owned organizations and enterprises with the main criteria of emissions decrease and climate change protection.
 
Up to now, AFD is the first and only sponsor to provide power projects of EVN with non-government guarantee loans. The first non - government guarantee loan of AFD for EVN was signed in 2010 as 100 million US$ for Huoi Quang hydropower plant.
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