Measuring the Economic Impacts of a Wind Power Project in Viet Nam
The Lotus Wind Power Project is an example of harmonious coexistence of environmental sustainability and economic growth.
The Lotus Wind Power Project is the first financing of the Asian Development Bank (ADB) for a wind power initiative in Viet Nam. In 2021, ADB arranged and syndicated a $173-million financing package for the project, which has a total capacity of 144 megawatts (MW). The project includes three wind power farm projects—Lien Lap, Phong Huy, and Phong Nguyen (with 48 MW each)—constructed and operated by the PC1 Group Joint Stock Company (PC1 Group) and RENOVA Global Business Development Company.
This brief shows how the project contributed nearly $90 million to Viet Nam’s gross domestic product during construction, and is forecast to generate almost $14 million of annual earnings in the next 20 years. It explains how modeling the impact of renewable projects can guide policy decisions and underscore the need to create a conducive environment for green energy investment as countries step up their transition toward net zero.
