Climate Investor One is considering an investment opportunity with Samtan Co Ltd (Samtan) in the development of 18 wind turbines totalling 78 MW near-shore Hiep Thanh Wind Power Plant located in Hiep Thanh, Tra Vinh province, South Vietnam.
The project site is in proximity to the Tra Vinh wind farm (Tra Vinh I) currently being developed by CI1. The project is owned by Ecotech Tra Vinh Renewables Joint Stock Company (Ecotech) and is included in the government’s Wind Power Master Plan of Tra Vinh Province. The project is expected to start operation by the end of 2020.
Our Development Partner 

Samtan Co Ltd.

We Invest 

USD 3.0
million

Development Funding

Estimated Project Impact
  • 78 MW  additional capacity
  • 257 GWh/year clean electricity
  • 123 500 tCO2eq/year emissions avoided
  • 500 construction jobs 
  • 181 000 people reached 

Funding Rationale

CI1’s investment will be used to finance the construction of the project, which will support the government’s ambition of reducing reliance on fossil fuels, hydropower and energy imports through the implementation of renewable energy projects.
As electricity demand in Vietnam is significantly increasing, the government has stipulated ambitious goals for the wind and solar sector and in 2016 revised Vietnam’s renewable energy targets. Targeted capacity for wind is 800 MW by 2020, 2,000 MW by 2024 and 6,000 MW installed by 2030.
To reach these goals the government will need to take measures to expedite wind development and encourage independent power producers to enter the market with new sources of funding to finance the country’s transition.
Contract Signature
Date

September 2019

Expected Commercial
Operations Date

2021

Region 

Southeast Asia

Country

Vietnam

Business Model 

IPP

Technology  

Wind
(78 MW)

Environmental & Social Category

B+

Sector

Wind

E&S Context

The E&S risk of the project has been classified as category B+ (in accordance with CI1’s risk categorisation), which is equivalent to International Finance Corporation (IFC) Category B.

An environmental impact assessment (EIA) to meet Vietnamese requirements has been completed and approved. An IFC-compliant environmental and social impact assessment (ESIA) is currently being completed.

Land acquisition is being undertaken as per Vietnamese law by the government. With Tra Vinh I, the Project is expected to deliver a greater impact in relation to CI1’s Community Development Programme for the Tra Vinh community. This is due to the aligned and coordinated interventions in one region, which is likely to more than double CI1’s resources to implement its CSR initiatives.

Disclosures 

Here you can find and download all the relevant disclosure documents for this project: