In Laos' Savannakhet plateau, 48 turbines from the Savan 1 project, developed by T&T Group, are converting wind power into electricity. In its initial seven months of operation, this turbine cluster generated approximately 36,5 million USD. Upon reaching its full 495 MW capacity, the project is estimated to achieve annual revenue of nearly 97,3 million USD, supplying 1,4 billion kWh of clean electricity to Vietnam's power system.

The Savan 1 wind power project developed by T&T Group. Photo: T&T Group

Notably, from its preparatory phase, the project secured financing from Military Commercial Joint Stock Bank (MB). This trust was rewarded as phase 1 of the project was completed at a rapid pace. Despite facing challenges with terrain and weather, the project took only 16 months to finish its dedicated 220 kV transmission line and commence commercial operation just before the New Year. This efficient implementation strengthens MB's commitment to continue supporting the group in numerous future projects.

In addition to MB, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has also disbursed over 2 trillion VND for the group's three solar power plants: Phuoc Ninh, Thien Tan 1.2, and Thien Tan 1.3. Currently, BIDV is considering credit approval for other wind power projects, including Savan 1.

Beyond commercial capital, the enterprise also benefits from policy capital for its strategic projects. In late July, T&T Group and Vietnam Development Bank (VDB) signed a framework agreement, agreeing to cooperate on state investment credit financing for sectors such as transport infrastructure, energy, industrial parks, logistics, and high-tech agriculture.

According to T&T Group's leadership, VDB's proactive decision to sign a framework agreement, rather than separate project agreements with a private economic group, demonstrates the enterprise's credibility within the policy banking system. Le Van Hoan, Chairman of VDB's Board of Directors, expects both parties to soon materialize the agreement with specific credit contracts in the near future.

Perspective of the Bao Loc - Lien Khuong Expressway in Lam Dong. Photo: T&T Group

On the international front, Standard Chartered Bank committed to arranging 6 billion USD in financing for the group's green project portfolio at the COP26 conference in 2021. This marked a significant international financial milestone, playing a role in shaping the green credit trend for Vietnam's private economic sector.

T&T Group's leadership states that the projects' appeal to financial institutions does not stem from a single project. What credit organizations recognize is the group's capability to implement a large-scale project portfolio across transport infrastructure, logistics, industrial infrastructure, and energy sectors.

"The overall project portfolio presents a significant resource challenge, demanding the involvement of medium- and long-term capital flows," T&T Group's leadership stated.

Specifically, in the transport infrastructure sector, the group is constructing Quang Tri Airport, a public-private partnership (PPP) project valued at over 5,8 trillion VND, aiming for operation late this year. A series of expressway projects, including Bao Loc - Lien Khuong and Ring Road 4 - Capital Region (component three), are also being urgently implemented by the unit.

In logistics, the Vietnam SuperPort project, in partnership with a Singaporean counterpart, is the first multimodal superport on the China - Vietnam - ASEAN economic corridor. The project recently achieved TAPA FSR Class A supply chain security certification, one of the most stringent global standards.

Representatives of T&T Group and VDB signing a cooperation agreement, expanding capital sources for priority investment areas. Photo: T&T Group

In the energy sector, T&T Group currently operates projects with a total capacity of nearly 2,900 MW and is developing a portfolio of approximately 16,000 - 20,000 MW of renewable energy.

In a previous statement, Do Quang Hien, Founder and Executive Chairman of T&T Group, remarked that entrepreneurs and private enterprises are not merely seekers of business opportunities but also partners with the state in fostering development, where significant commitments are realized through specific works, projects, and tangible value. After over 30 years of development, execution capability appears to be a crucial asset helping T&T Group expand its access to large capital sources, both domestic and international.

Thanh Thu