HSBC Vietnam partners with Trungnam group in renewable energy projects
HSBC Vietnam has signed a Letter of Intent (LoI) for evaluating and providing financing solutions with the Trungnam Construction Investment Corporation (Trungnam Group), one of the largest renewable energy developers in Vietnam, according to Saigon Giai Phong newspaper.
The LoI marks a further step by the bank in the execution of its commitment to arrange up to US$12 billion of direct and indirect sustainable financing for Vietnam and the corporate sector in the Southeast Asian nation by 2030, it said.
According to the LoI, HSBC Vietnam will partner with Trungnam Group to evaluate and provide sustainable financing solutions for the development of the group's renewable energy projects across Vietnam.
The bank will leverage on its global investment banking franchise, its longstanding presence in and understanding of Vietnam, its track record and expertise in sustainable finance, as well as its deep understanding of various investor pools to devise a suitable financing strategy for Trungnam Group.
The support includes the bank’s consultation and technical support so the group can access capital markets in Vietnam and internationally with a focus on sustainability.