The Monsoon Wind Power Project was recognized as the ESG Deal of the Year at the 2024 Asia Legal Awards. Milbank LLP’s team in Singapore advised on the historic transaction, representing Asian Development Bank and other senior secured parties on the US$692 million non-recourse project financing to construct and operate the power project in Laos PDR.
The Monsoon Wind Power Project, which will export electricity to Vietnam, will be the first wind power plant in Laos, the largest in Southeast Asia and the first Asian cross-border wind power project. The 133-turbine plant will sell electricity to Vietnam’s state-owned utility Vietnam Electricity under a 25-year power purchase agreement. The project is expected to reduce annual greenhouse gas emissions by 750,000 tons of carbon dioxide equivalent once operating.
The Monsoon Wind Power Project was also named Asia-Pacific Wind Deal of the Year at the 2023 Project Finance International (PFI) Awards.
