Japan's Mitsubishi, others raise $692mn for Monsoon wind project in Laos

TOKYO -- Japan's Mitsubishi Corp (8058.T) on Monday said that it and other shareholders of the Monsoon wind power project in Laos have raised US$692 million in financing for the wind farm.

Mitsubishi, Thai renewable energy firm BCPG Pcl, and other stakeholders secured the financing package from the Asian Development Bank, Japan International Cooperation Agency, Sumitomo Mitsui Banking Corporation and other lenders, the Japanese firm said.

The project, which is set to sell power to Vietnam under a 25-year deal, will have 600 megawatts of installed capacity and should be launched in 2025.

Its total costs stand at $950 million, according to Monsoon's website.