VIB provides credit capital of VND 1,640 billion for REE's wind power project

The funding from VIB not only ensures financial resources for one of REE's key clean energy projects, but also contributes to promoting the green energy transition process in the Mekong Delta, which is directly facing the challenges of climate change and the need for sustainable development.

Duyen Hai Wind Power Project - a new step to green the investment portfolio

The Duyen Hai Wind Power Plant Project is being implemented in 3 communes of Dong Hai, Long Thanh and Ngu Lac, Vinh Long province, with a designed capacity of 48 MW, expected to be commercially energized before December 31, 2025. When put into operation, the plant will contribute to supplementing clean electricity to the national grid, directly serving and actively contributing to the socio -economic development of the region.

The project is an important link in REE’s renewable energy expansion strategy. To date, REE has developed an energy portfolio of more than 2,800 MW of installed capacity, of which nearly 1,700 MW is renewable energy (wind, solar and hydropower). With more than 1,000 MW of installed capacity currently owned, the Company aims to increase its total power generation capacity to 5,000 MW by the end of 2035.

Mr. Nguyen Ngoc Thai Binh - Deputy General Director of REE shared: “We appreciate the support of VIB - a leading financial institution in Vietnam, with the ability to quickly deploy, understanding the industry and always providing solutions suitable to the characteristics of each project. As REE expands its footprint in the renewable energy sector, having a reliable financial partner like VIB is an important factor in helping us realize our strategy of 'greening' the power sector investment portfolio in the coming years”.

VIB - professional financial partner, accompanying sustainable development

As the main financing partner for the Duyen Hai wind power project, VIB and its team of corporate finance experts have been involved from the early stages to advise on loan structure and design a disbursement roadmap that is suitable for the operational characteristics of a renewable energy project. The flexible implementation model, fast response speed and effective risk management capabilities are what make the difference in the way VIB accompanies businesses.

At the signing ceremony, Mr. Nguyen Xuan Dung - Deputy General Director and Director of Corporate Banking affirmed: "The cooperation with Duyen Hai Wind Power and REE this time continues to affirm VIB's commitment to fast implementation, practical support and responsible and effective companionship with pioneering units like REE - businesses that are creating long-term value for society through projects in areas that have a positive impact on sustainable development".

The partnership of two leading brands

Over the years, VIB and REE have established and maintained a comprehensive financial cooperation relationship, from products and services of Cash Flow Management, Credit, Trade Finance, International Payment, Foreign Exchange and Capital Market; to products and services related to Mergers and Acquisitions, Connecting and Cross-selling products to partners of REE and VIB, ...

VIB's continued partnership with REE in a large-scale energy project affirms its in-depth implementation capacity, quick response ability and high flexibility, while also demonstrating the bank's actual capacity in infrastructure financing, affirming VIB's position as a reliable financial partner for leading enterprises aiming for sustainable development.

Information about VIB's financial solutions for corporate customers can be found at: https://www.vib.com.vn/vn/doanh-nghiep

Bich Dao

Source: https://vietnamnet.vn/vib-cap-von-tin-dung-1-640-ty-dong-cho-du-an-dien-gio-cua-ree-2422905.html