35 MW Solar Photovoltaic Power Plant, Vietnam
SLP Environmental Co., Ltd was appointed by a global renewable energy company to perform environmental and social due diligence (ESDD) on a ground mounted 35 MW Solar Photovoltaic Power Plant and Transmission Line project being developed in South Central Vietnam. The Client was considering an investment in the Project and as part of their transaction due diligence process instructed SLP to perform the ESDD on the Project. The Reference Framework for the assignment included National E&S Requirements and international financial institution standards and guidelines including:
- International Finance Corporation Performance Standards;
- World Bank Group Environmental, Health, and Safety General Guidelines; and
- World Bank Group Environmental, Health, and Safety Guidelines for Electric Power Transmission and Distribution.
The primary objectives of the Environmental and Social Due Diligence were to:
- Assess the Projects conformance status with respect to applicable requirements specified in the Reference Framework;
- Clearly identify any gaps and prioritise them in terms of significance;
- Recommend appropriate corrective actions (CA’s) to close gaps and align Project E&S performance with Reference Framework requirements;
- Set timelines for implementation of CA’s based on assigned priority and specify appropriate Completion Indicator to verify gap closure;
- Prepare a bespoke Environmental and Social Action Plan (ESAP) for the Project for inclusion in the ESDD report, and
- Assess the capacity and resources of the Sponsor to implement the ESAP requirements.
SLP specialises in performing ESDD on behalf of project lenders/ investors and project developers and has completed over one hundred due diligence assignments across multiple business sectors and ASEAN jurisdictions.