Levanta Renewables and BIDV sign finance deal for Chu Prong wind farm

Levanta Renewables and BIDV sign finance deal for Chu Prong wind farm

Levanta Renewables announced on April 1 that the company had signed project finance agreements with BIDV for the 50 MW Chu Prong wind farm in Gia Lai province.

This marks Levanta’s second project financing in Vietnam and the company's second collaboration with BIDV.

In March, Levanta acquired an 80 per cent stake in the Chu Prong wind farm in Gia Lai. The asset generates more than 150 GWh of renewable electricity annually and supplies power to the state-owned Vietnam Electricity (EVN) under long-term Power Purchase Agreements (PPAs).

The move reflects rising investor confidence in Vietnam’s renewable energy market, driven by secured PPAs and a growing appetite for clean energy. It also emphasises the importance of domestic financial institutions in supporting the expansion of renewable energy ventures.

Vietnam has been a key market for Levanta since its inception, and the company is progressing approximately 300 MW of ventures expected to come online over the next two to three years.

The partnership with BIDV reinforces Levanta’s commitment to encouraging sustainable energy initiatives and supporting Vietnam’s shift towards a cleaner energy future.

Committed to providing innovative solar, wind and battery storage solutions, Levanta is headquartered in Singapore and operates across Thailand, the Philippines, Vietnam and Malaysia. Including assets under construction and contracted development projects, the company’s regional portfolio now exceeds 750 MW of renewable energy capacity.

VIR