Climate mitigation and adaptation projects inducted into PFAN’s development pipeline receive support in a three-stage process known as The PFAN Journey.



After each stage, a review is conducted by PFAN’s Regional Coordinators to ensure the business is ready to proceed to the next stage, if not, we provide guidance on the next steps to pursue. This has enabled closer handholding and guidance for the entrepreneur, by not just their PFAN Advisor, but also by our most senior project development specialists and investment facilitators.

This structure has provided PFAN with the flexibility to fast track advanced projects that would benefit from advancing from Stage 1 directly to Stage 3, or even repeat stages, for less mature projects, thereby better providing a more customer-oriented tailored service to entrepreneurs.

Since the launch of the revamped PFAN Journey, over 365 entrepreneurs across the globe have received PFAN support, of whom 226 and 66 of reached Stage 2 and Stage 3 respectively. Despite the effects of the pandemic, over 55 projects within the development pipeline have reached the end of the Journey and successfully achieved investment, thanks to PFAN’s intervention.

Thien Phu Energy Investment, JSC




Investment Amount (USD)


Business type

Project IRR (%)


Installed capacity (MW)


Technology Area

Wind Energy

Thien Phu Energy's PFAN Journey

In August 2021, PFAN’s technical committee approved TPE’s proposal for Tipping Point Technical Assistance (TPTA) to co-fund the cost of the consulting services for third-party appraisal of the feasibility study for the two wind farms, which enabled the PPA to be signed in mid-March 2021.

The TPTA advisory support helped fulfil the conditions precedent in the EPC turn-key contract with Queen Capital Finance ensuring successful investment of USD 129.4 million for construction of the two wind energy plants.


What PFAN has done?

In 2017 and 2018, the company’s wind farm project in the Ben Tre province benefitted from PFAN’s advisory services, helping it to fine-tune the business plan, to review and finalise the selection of wind energy technology, and to connect with different potential investors.

With this support from PFAN, and through resulting discussions, the project evolved and grew from an initial plan for a 30 MW onshore wind farm (Thien Phu 1) to include another 30 MW nearshore wind farm (Thien Phu 2), and with an exciting larger vision of more than 1,000 MW of both onshore and offshore wind farms in the Ben Tre Province.

In addition to customised support from seasoned advisors, PFAN introduced TPE to a strategic financing partner, Queen Capital Finance, who will together with TPE undertake the largest wind energy farm in the Mekong Delta.

PFAN has also supported TPE through a TPTA grant that has been used to provide partial support for the cost of the consulting services for third-party appraisal of the feasibility study for the two wind farms. This support is essential for the current phase of the project (60 MW) and will help trigger the investment in the larger second phase of 500 MW wind project development through 2025, and targeting a total of 1,000 MW in installed capacity by 2030.