DBS, OCBC among lenders for Vietnam coal power plant

Facility aims to meet country's energy needs, but green groups fear climate change impact

Locals in Bali are contesting plans to more than double the capacity of the Celukan Bawang coal-fired power plant on the island's north coast near the tourist area of Lovina, said environmental group Greenpeace.
Locals in Bali are contesting plans to more than double the capacity of the Celukan Bawang coal-fired power plant on the island's north coast near the tourist area of Lovina, said environmental group Greenpeace.PHOTO: GREENPEACE

DBS and OCBC are among a group of banks and lending agencies that have signed off on financing of about US$1.87 billion (S$2.5 billion) for a controversial coal-fired power station in Vietnam.

The 1,200 megawatt (MW) Nghi Son 2 power station in Tinh Gia district, Thanh Hoa province, is one of a number of large coal-fired power plants planned to meet Vietnam's energy needs.

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A version of this article appeared in the print edition of The Straits Times on April 19, 2018, with the headline 'DBS, OCBC among lenders for Vietnam coal power plant'. Subscribe