BCG Gaia was disbursed by Singapore’s DBS Bank with a credit package of VND 1,834 billion

On June 6, 2023, BCG Gaia Joint Stock Company, a member company of Bamboo Capital Group, announced that it was successfully disbursed a loan of USD 77.5 million by DBS Bank Limited (DBS) of Singapore. equivalent to about 1,834 billion VND.

It is known that BCG Gaia Joint Stock Company is a joint venture between BCG Energy – a member company of Bamboo Capital Group, and SembCorp Energy Vietnam, specializing in the development of large-scale solar power projects in the Delta provinces. Mekong River. BCG Gaia is currently the owner of two solar power plants, BCG Long An 1 and BCG Long An 2 with a total capacity of 141 MW.

A loan of VND 1,834 billion from DBS has a good interest rate and a fairly long term, suitable for the development roadmap of solar energy projects. BCG Gaia said that it will use the loan to strengthen the financial structure, lower the investment interest rate bracket for the two solar power field projects it owns significantly, and at the same time improve its competitiveness with businesses. other on the market.

In the context of recent fluctuations in the international and domestic financial markets, the mobilization of capital for most businesses is difficult. The mobilization of VND 1,834 billion from DBS shows the confidence of international financial institutions in the business platform and healthy credit profile of the projects developed by BCG Gaia.

At the end of March 2023, BCG Energy attracted great attention in the market when a subsidiary of the joint venture of BCG Energy and SP Group (Singapore) raised a syndicated loan of USD 31.5 million from three partners. Singapore banks are DBS Bank Limited (DBS), Oversea Chinese Banking Corporation (OCBC) and United Overseas Bank Limited (UOB). BCG Energy said that the joint venture company has been granted a credit line of up to 50 million USD by Singapore banks, the parties are still in the process of negotiating to disburse the rest.

Pham Nguyen Ngoc Thuong, Deputy General Director of BCG Energy said: “The recently approved Power Plan VIII shows the Government’s commitment and determination in a fair energy transition towards the strong development of energy sources. renewable quantity. This is also an important legal basis for businesses to implement new renewable energy projects in the future, and at the same time creates favorable conditions for mobilizing a huge source of “green credit” from credit institutions. and financial institutions at home and abroad. BCG Energy will take advantage of the opportunity opened up from Power Master Plan 8 to continue working with reputable organizations to mobilize additional development resources for wind and solar power projects, actively contributing to the development process. clean energy transition in Vietnam”.