Malaysia-based Leader Energy Holding Bhd, a subsidiary of HNG Capital, has secured a USD23.32 million loan from HSBC Bank (Vietnam) Limited (HSBC Vietnam) to support its solar projects in Vietnam.
The loan, a seven-year-long committed term loan provided solely by HSBC, will be used to refinance the Vinh Hao 6 (VH6) solar power plant. The plant is located in Binh Thuan province, VH6 is a 50 MW solar power plant that has been operational since 2019. It generates 83,000 MWh of electricity annually, offsetting 75,131 tonnes of CO2 emissions. The electricity is sold to Electricity of Vietnam under a 20-year power purchase agreement at a feed-in tariff of 9.35 cents per kWh.