Phu Cuong Group (“PCG”) retained DNV KEMA Renewables, Inc. (“DNV GL”) to prepare a feasibility study for the 170 MW Phu Cuong Wind Farm in Soc Trang Province in Vietnam. The objective of the feasibility study was to determine the key risks and opportunities associated with the Project, as well as facilitating sound PCG decision-making related to future project development activities and implementation of the wind power project. The feasibility study was funded through a grant from the U.S. Trade and Development Agency (“USTDA”). DNV GL engaged Delphos to implement financial feasibility analysis and recommend financing options for the project. Delphos developed a financial model that incorporating the project’s capital costs, operating expenses, energy sales, debt and equity financing, and other decision-making metrics. Additionally, Delphos conducted outreach to financial institutions – including development finance institutions, export credit agencies, and commercial banks – to gather information on financing terms and recommended three separate financing options for the project.