Vietnamese IPP first paves the way for future deals

Author: Gemma Varriale | Published: 27 Sep 2011

Clarification of legal ambiguities on the debt financing for the Mong Duong two coal-fired power plant looks set to accelerate the development of future projects in Vietnam.

The $1.5 billion project is the largest independent power project ever undertaken in Vietnam and the first build operate transfer (BOT) project to reach financial close since 2003.

According to Joseph Bevash, managing partner at Latham & Watkins in Tokyo, “the transaction is the first new major power development involving an American company in Vietnam.”

The deal...