Manila-based the Asian Development Bank (ADB) has signed a $37.8 million loan deal with TTC Energy Development Investment Joint Stock Company (TTC Energy) to develop a 50MW photovoltaic solar power plant in Tay Ninh Province in Viet Nam. A supplementary $7.6 million loan was provided by Leading Asias Private Infrastructure Fund, which is supported by the Japan International Cooperation Agency.
TTC Energy will develop a 50 MW solar power plant facility in Tay Ninh Province, which is about 50 kilometers northwest of Ho Chi Minh City. The new solar plant will directly serve the electricity demand of residents and businesses of Ho Chi Minh City and surrounding regions. It will reduce annual carbon dioxide emissions by 29,760 tons by 2020.
Viet Nam plans to enhance the share of renewable energy sources, like wind, hydropower, solar, and biomass to 21% of total installed capacity by 2030 and the country also pledge to reduce greenhouse gas emissions by up to 25% by 2030.
In November 2019 and December 2019, ADB announced projects in Pacific region, financial supports to the ECEC project in India, a power plant project in Thailand, a hydropower plant in Nepal, and transmission lines expansion project in Greater Dhaka, Bangladesh. These are featured below:
In December 2019, ADB announced intention of investing approximately $1 billion in energy projects in the Pacific region from 2019 to 2021 to increase renewable energy generation. ADB plans to improve access to affordable and sustainable electricity in the subregion. ADB is helping Pacific countries by providing finance and direct technical assistance. The projects financed by ADB will develop solar, wind, and hydropower facilities; install battery storage technology; and improve transmission lines to have access to affordable electricity.
ADB signed a $451 million loan agreement with the Government of India to strengthen power connectivity between the southern and northern parts of the ChennaiKanyakumari Industrial Corridor (CKIC), which is part of the East Coast Economic Corridor (ECEC), in Tamil Nadu.
ADB provided $180 million for a 2,500-megawatt (MW) combined-cycle gas turbine power plant in the Rojana Rayong 2 Industrial Park of Thailands Rayong Province. The project will be the fourth-largest power plant and one of the largest combined cycle gas turbine power plants in Thailand.
Further ADB approved a $300 million loan for expansion of transmission lines in Greater Dhaka and the western zone of Bangladesh. ADB will help finance transmission lines, substations, and an enterprise resource planning system.
Nepal Water and Energy Development Company Private Limited receive a $60 million financing package from ADB to help build and operate a 216-megawatt run-of-the-river hydropower plant on the Trishuli River near the capital, Kathmandu. The fund will enhance Nepals energy security by helping to utilize its renewable hydro resources.
The Asian Development Bank (ADB) is a Manila-based regional development bank formed in 1966 which assists its members by providing loans, grants, technical assistance, and equity investments to promote social and economic development in the region.
ADB is committed to achieving a prosperous, resilient, inclusive, and sustainable Asia and the Pacific region. It empowers people by providing information with a set of principles and exceptions.