, Vietnam

AES taps 14 financers for $1.5B Vietnam coal-fired plant

AES has closed a $1.5 billion long-term non-recourse construction financing from 12 commercial banks and two Korean government export credit agencies for its 1,200MW Mong Duong II coal-fired power plant.

 

Located in the Quang Ninh province of Vietnam, the electricity generated by the facility will be sold to state-owned power company Vietnam Electricity under a 25-year agreement. The company has signed a 25-year agreement with the Vietnam National Coal-Mineral Industries Group for the supply of locally sourced coal to the facility.

AES holds a 51% equity ownership interest in the $1.95bn project, while a subsidiary of POSCO Power and a unit of China Investment Corporation hold 30% and 19%, respectively.

Doosan Heavy Industries and Construction Co will serve as the engineering, procurement and construction contractor for the power project, which is expected to begin commercial operations in 2015.

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!