The fate of the 1,980MW Vinh Tan 3 coal-fired power plant, located in the southern central province of Binh Thuan, has become uncertain now that the London-headquartered HSBC announced withdrawing as the financial advisor for the project.
One of the world’s largest financial groups, HSBC, has pulled out of a major coal project in Vietnam, marking the latest move by an international bank to go cold on funding the biggest source of climate-changing greenhouse gas emissions, according to newswire eco-business.com.
HSBC was appointed as financial advisor to the $2 billion Vinh Tan 3 project in 2014, but a few days ago, the bank announced that it is no longer involved in the project.