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Nam Dinh 1 (1200 MW)

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Location: Hải Hậu district, Nam Định province

Estimated cost: USD $2.5 billion

The sponsors are seeking USD$1.9 billion in debt.

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

Expected financial close: unclear

Status: Pre-Permit Development

Sponsors
  • ACWA Power
  • Taekwang Power
Advisors
  • Financial: Clifford Chance
  • Lender: Shearman and Sterling
  • Sponsor: Covington & Burling
  • Legal: Freshfields Bruckhaus Deringer
  • Legal: LVN & Associates and Orrick
  • Technical: Fichtner GmbH & Co. KG
  • Tax: PricewaterhouseCoopers
  • Insurance: Aon
EPC
  • China Gezhouba Group International Engineering
  • NOMAC, a subsidiary of ACWA Power International
  • KEPCO Engineering & Construction Company (KEPCO E&C)
  • Fichtner GmbH & Co. KG
  • Doosan Group
Lenders

Banks

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

Export Credit Agencies (ECAs)

  • Sinosure

References

  1. Minerva Lau, Project Finance International (16 December 2019), ‘Vietnam – IPP loan signed’
  2. Minerva Lau, Project Finance International (9 May 2019), ‘Vietnam  – BOC leads financing for Nam Dinh 1’
  3. Mia Tamara-Stubbs,  IJGlobal (4 July 2017), ‘Vietnam issues investment registration certificate for Nam Dinh 1 coal-fired’
  4. Vietnam Breaking News (2 July 2017) ‘Two new thermal power plants licensed‘
  5. IJGlobal (19 April 2017), ‘Nam Dinh 1 coal-fired PPA to sign in June’
  6. Mia Tamara-Stubbs,  IJGlobal (31 January 2017), ‘Banks Mandated on Nam Dinh 1 IPP’
  7. Vietnam News (19 January 2016), ‘Nam Dinh thermal power plant pact signed’
  8. ACWA Power (2016), ‘Assets’
  9. Taekwang Power Holdings (2016), ‘Message from management’
Information updated: 14 May 2020

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