HSBC arranges EVNNPC s debut 105 million green loan
HSBC Vietnam on October 27 announced it has successfully arranged Northern Power Corporation s debut offshore 105 million syndicated green term loan facility
On October 27, HSBC arranged a $105 million green loan for Northern Power Corporation (EVNNPC) to fund the installation of Battery Energy Storage System (BESS) units at 70 existing substations across northern Vietnam. HSBC served as the Sole Mandated Lead Arranger, Underwriter, Bookrunner, Sole Green Coordinator, and Facility Agent for the transaction.
The eight-year term loan falls at the longer end of Vietnam's offshore syndicated loan market. The deal was significantly oversubscribed, attracting 15 lenders from China, South Korea, Taiwan, and Thailand. The successful financing demonstrates strong lender confidence in EVNNPC and highlights the strategic importance of grid-scale energy storage for Vietnam's energy transition.
The BESS program will help strengthen grid stability and reliability, meet growing electricity demand, and reduce grid congestion and outages. It will also support the implementation of Vietnam's revised Power Development Plan VIII and the National Energy Master Plan. HSBC CEO Tim Evans emphasized the company's pride in supporting EVNNPC's first offshore syndicated US dollar financing and its investment in battery energy storage infrastructure.
The transaction strengthens HSBC's relationship with EVNNPC, following successful onshore facilities, and underscores HSBC's commitment to supporting Vietnamese corporates in growing, diversifying funding, and investing in a more resilient, sustainable economy.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
