Vinh Hao 6 Solar Power Plant Project is funded by HDBank

Vinh Hao 6 Power Joint Stock Company has just signed a loan agreement with Ho Chi Minh Development Joint Stock Commercial Bank (HDBank) to implement Vinh Hao 6 solar power plant project. [caption id="attachment_14867" align="aligncenter" width="640"] Loan Agreement Signing Ceremony for Vinh Hao 6 Solar Power Plant[/caption]

According to the signed contract, HDBank will grant long-term credit to Vinh Hao 6 Power JSC, ensuring the capital for the company to deploy the investment project of Vinh Hao 6 Solar Power Plant in Vinh Hao commune, Tuy Phong district, Binh Thuan province.

Speaking at the signing ceremony, Mr. Nguyen Anh Phung, HDBank Trung Hoa Director, said HDBank committed to accompany and support the best credit policies for Vinh Hao 6 Company, namely concessionary interest rates, loan time incentives, fees and transaction procedures for the project to be implemented effectively, ensuring quality and progress.

Mr. Nguyen Anh Phung also affirmed that the signing ceremony was the event that marking FECON together with Acwa Power which established Vinh Hao 6 Power JSC, to become HDBank's major partners in the coming time.

Mr. Nguyen Hoang Long, Director of Vinh Hao 6 Power JSC also said that in the process of approaching and negotiating with banks, Vinh Hao 6 Power JSC met HDBank which is a leading joint stock bank in Vietnam, has been responsive to approach the market and formulation strategy with clear criteria for financing solar power projects in Vietnam. Vinh Hao 6 project is one of the few projects that meet the requirements by HDBank.

In the next phase, with the determination to implement methodically and professionally of FECON and Acwa Power, together with the companion of HDBank, Vinh Hao 6 Power JSC is very confident in implementing successful projects though time is running out.

This project has been undivided attention by FECON and ACWA Power (Saudi Arabia), giving priority to both financial and managerial resources to implement 6 months ahead of the time signing credit agreement.

Currently, the project is under urgently construction to ensure the progress of putting into operation and national grid before June 30, 2019.

Vinh Hao 6 Solar Power Plant Project jointly developed by FECON JSC and Acwa Power Group, is the first renewable energy project of ACWA Power in Vietnam and also the first energy investment project of FECON’s. It is a promising start for the relationship between these two strategic partners in renewable energy investment in Vietnam.