Sign in Subscribe
Wind power plants

Pacifico Energy Vietnam Secures $28.5 Million Financing for Sunpro Wind Farm Project

Strategic Insights

— 1 min read

Pacifico Energy Vietnam, a development platform of Pacifico Energy Group, has announced the closing of up to $28.5 million in senior debt financing from Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) for its utility-scale Sunpro Wind Farm project. This financing marks a significant milestone for Pacifico Energy Vietnam and demonstrates strong institutional confidence in the company's development capabilities and in Vietnam's renewable energy sector.

Key Takeaways:

  • The Sunpro Wind Farm project, located in Vinh Long province in Vietnam's Mekong Delta, is expected to generate 89.5 GWh of electricity annually, roughly equivalent to a 10 MW 24/7 load, and accounting for about a month of Vinh Long province's electricity use.
  • The project uses seven Goldwind turbines and is preparing for commercial operation by the end of Q3 2025 under a signed power purchase agreement with Electricity of Vietnam (EVN).
  • On an average day, Sunpro will produce ~245 MWh, enough to fully charge five 50-MWh grid batteries.
  • The financing demonstrates strong institutional confidence in Pacifico Energy's development capabilities and in Vietnam's renewable energy sector.
  • The project supports Vietnam's ambitious targets under the Revised Power Development Plan VIII (PDP8), which aims to achieve 500-558 TWh of commercial electricity by 2030, implying sustained double-digit demand growth.
  • Pacifico Energy prioritized hiring local residents for key roles, while contracting local businesses for concrete works, material transportation, and equipment rental, contributing over 53 billion VND to community initiatives.
  • The project advances several strategic objectives for Pacifico Energy, including establishing a wind power track record in Vietnam's regulatory environment and opening new development opportunities in the Mekong Delta.

Statistics:

  • 89.5 GWh
  • 10 MW
  • 245 MWh
  • 55,300,000,000 VND
  • 500-558 TWh (Vietnam's commercial electricity targets by 2030)

Sources:

  • Pacifico Energy Vietnam
  • Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank)
  • Electricity of Vietnam (EVN)
  • Revised Power Development Plan VIII (PDP8)
  • Pacifico Energy Group
  • SyndiGate Media Inc.

Read more