HSBC finances HNG Capital’s RM181m acquisition of a stake in Vietnam solar project

HSBC Malaysia acted as the sole lender for a US$44 million five-year committed term loan to Penang-based HNG Capital Group to finance the acquisition of a stake in a 330MW solar project in Vietnam.

HNG Capital’s foray into power generation started off more than 25 years ago when it secured the first independent power producer project in Cambodia in 1994. Since then, the power division of HNG Capital has evolved, expanded and grown its business through its internal expertise and the setting up of subsidiary companies. HNG Capital acquired a majority and controlling stake in a hydropower project comprising five hydropower plants in Vietnam in 2016.

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