Maybank Expands Financing for Vietnam's Largest Offshore Wind Power Project

Maybank expands green financing for offshore wind power construction at Ca Mau 1 project

Specifically, Maybank will finance Sinohydro in EPC (Engineering, Procurement, and Construction) projects to build offshore wind farms.

With a total installed capacity of up to 350 MW, the Ca Mau 1 Project is expected to become the largest offshore wind farm in Southeast Asia to date, divided into four areas from 1A to 1D.

During the construction of the first two zones, 1A and 1B, Maybank provided financing worth US$38.2 million in the form of bill discounting accompanied by export documents.

Mr. Michael Foong, General Director of Maybank Vietnam, commented: "We predict that there will be a wave of foreign direct investment in the renewable energy and green technology sectors in Vietnam in the coming time, especially with the support from sustainable capital sources and green trade finance. Maybank is actively connecting Vietnamese enterprises with international investors to promote this process, especially when Vietnam is preparing to be upgraded from a frontier market to an emerging market."

And recently, Maybank Investment Bank (Vietnam) - a member company of Maybank Group, also acted as the exclusive financial advisor to Phuc Sinh Joint Stock Company (a leading company in the Vietnamese spice export industry) in receiving investment from &Green Investment Fund - a fund managed by SAIL Investments - a global sustainable investment manager based in the Netherlands. Although the global trend of foreign direct investment is declining, it is very encouraging that a European investor believes in the potential of a Vietnamese agricultural enterprise like Phuc Sinh, with the intention of funding up to 25 million USD.

Source: https://baotainguyenmoitruong.vn/maybank-mo-rong-tai-tro-du-an-dien-gio-ngoai-khoi-lon-nhat-tai-viet-nam-379942.html