Location: Hải Hậu district, Nam Định province

Estimated cost: USD $2.4 billion

The sponsors will finance the project on a 77:23 debt to equity ratio – seeking US$1.85 billion in debt.

The Investment Certificate for this power station was issued in in January 2017.

Expected financial close: unclear

Status: Pre-Permit Development

BOT Certificate expected to be signed: Q4 2020

  • ACWA Power
  • Taekwang Power
  • Financial: Clifford Chance
  • Legal: Shearman and Sterling
  • China Gezhouba Group International Engineering

Banks

  • Bank of China (Lead Arranger)
  • China Construction Bank
  • China Development Bank
  • China Minsheng Bank

Export Credit Agencies (ECAs)

  • Sinosure

References

  1. Minerva Lau, Project Finance International (9 May 2019), ‘Vietnam  – BOC leads financing for Nam Dinh 1’
  2. Mia Tamara-Stubbs,  IJGlobal (4 July 2017), ‘Vietnam issues investment registration certificate for Nam Dinh 1 coal-fired’
  3. Vietnam Breaking News (2 July 2017) ‘Two new thermal power plants licensed
  4. IJGlobal (19 April 2017), ‘Nam Dinh 1 coal-fired PPA to sign in June’
  5. Mia Tamara-Stubbs,  IJGlobal (31 January 2017), ‘Banks Mandated on Nam Dinh 1 IPP’
  6. Vietnam News (19 January 2016), ‘Nam Dinh thermal power plant pact signed’
  7. ACWA Power (2016), ‘Assets’
  8. Taekwang Power Holdings (2016), ‘Message from management’

Information updated: July 2019

In addition to the references noted above, Market Forces also considers information from financial journals, companies’ public disclosures, and news reports.