Location: Hải Hậu district, Nam Định province

Estimated cost: USD $2.07 billion

The sponsors will finance the project on a 75:25 debt to equity ratio – seeking US$1.56 billion in debt.

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

Expected financial close: Mid-2018

Status: Pre-Permit Development

Completion expected: 2020 

  • ACWA Power
  • Taekwang Power
  • Financial: Clifford Chance
  • Legal: Shearman and Sterling
  • Posco Engineering & Construction

  • Mizuho Financial Group (Lead Arranger)
  • DZ Bank
  • Korea Development Bank
  • MUFG
  • Standard Chartered

Export Credit Agencies (ECAs)

  • Export–Import Bank of Korea (Kexim)
  • Korea Trade Insurance Corporation (K-sure)


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

Information updated: 7 November 2018

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