Pacifico Energy Vietnam Closes $28.5 Million Financing for Its Second Power Project

About this update from Vietnam Joint Stock Commercial Bank For Industry And Trade

30 MW Sunpro Wind Farm will deliver ~90 GWh a year — roughly a month of Vĩnh Long’s electricity use — underpinned by senior financing from VietinBank HO CHI MINH CITY, Vietnam, August 27, 2025--(BUSINESS WIRE)--Pacifico Energy Vietnam ("PEV"), the Vietnam-based development platform of Pacifico Energy Group ("PEG"), a leading global energy infrastructure developer, today 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 is PEG’s second power project in Vietnam and a pivotal step in the company’s expansion in Vietnam. The 30 MW wind farm, located in Vĩnh Long province in Vietnam’s Mekong Delta, is expected to generate 89.5 GWh of electricity annually — roughly a 10 MW 24/7 equivalent load. This amount of power production is equal to 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. VietinBank, one of Vietnam’s four state-owned banks and the second-largest by total assets, provided senior debt financing for EPC activities and the refinancing of existing shareholder loans. The financing demonstrates strong institutional confidence in Pacifico Energy’s development capabilities and in Vietnam’s renewable energy sector. "This financing marks a major financial and strategic milestone for Pacifico Energy Vietnam and for the country’s energy landscape," said Nate Franklin, Chairman of Pacifico Energy Group. "We appreciate VietinBank’s professionalism and support. Reliable megawatt-hours are the currency of growth in Vietnam’s next decade, and Sunpro’s ~10 MW of 24/7-equivalent output is practical capacity the grid can use every hour of the year. As AI, cloud, and advanced manufacturing scale globally, ‘critical power’ has become a competitiveness issue — not only in Vietnam but worldwide — and Pacifico is focused on delivering dependable megawatt-hours at industrial scale." The Sunpro Wind Farm supports Vietnam’s ambitious targets under the Revised Power Development Plan VIII (PDP8). Al...

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