Mayer Brown announced that it has advised the Asian Development Bank (ADB), Japan International Cooperation Agency (JICA) and Export Finance Australia (EFA) as the lenders’ counsel in relation to the project financing of a 144MW wind power project in Quang Tri Province, Vietnam.
The milestone project comprises three sub-projects spread across three different sites, each with a capacity of 48MW. The project will help Vietnam meet its rapidly growing demand for energy by increasing its wind power capacity by approximately 30 percent.
The project involved utilising long-term US dollar limited-recourse financing from commercial banks and other development finance institutions that was unavailable locally, and represents a significant step forward for the rapidly evolving wind power industry in Vietnam.
The two-office Mayer Brown team was led by partners Ben Thompson (Singapore) and David Harrison (Ho Chi Minh City), and included: counsel Matthew Chow (Singapore); counsel Hai Thao Nguyen, senior associate Orsolya Szotyory-Grove and associate Qin Sue Koh (all Ho Chi Minh City).