Udupi power project

Illustrative image (Photo: VNA) Hanoi (VNA) – Thai firms are stepping up investment in renewable energy projects in Vietnam, particularly solar power, through merger and acquisition (M&A) deals. B.Grimm Power Pcl has registered to invest 216.7 million USD in the Hoa Hoi solar power project in the central province of Phu Yen, the fourth largest foreign-invested project in Vietnam so far this year. Vo Cao Phi, Director of the provincial Department of Planning and Investment, said this will transform the share structure of B.Grimm Power Pcl and Vietnam’s Phu Yen TTP JSC. Last year, the Thai group spent 32.5 million USD buying up to 80 percent of stake at Phu Yen TTP JSC – the investor of the 257 MW plant in Phu Yen, which is expected to be put into operation in June 2019. In April 2019, the Export-Import Bank of Thailand (EXIM Thailand) also extended 65 million USD in credit to Eastern Power Group Pcl and Communication & System Solution Pcl to finance … [Read more...] about Thai investors beam capital into solar power projects in Vietnam

A view of solar panels of the Cat Hiep solar power plant in Cat Hiep commune of Phu Cat district, Binh Dinh province (Photo: VNA) Hanoi (VNA) – With its many incentives for clean energy development, the Government is making solar power projects more attractive than ever. Almost two years since it was issued, Prime Minister Nguyen Xuan Phuc’s Decision No.11/2017/QD-TTg on mechanisms to encourage the development of solar power projects in Vietnam has created a magnet for investors in this field. Last April, a complex of three solar power plants with the total capacity of 330 MWp was inaugurated in the south central province of Ninh Thuan. Invested in by BIM Energy of BIM Group and AC Energy of the Philippines’s Ayala Corp., it is Southeast Asia’s biggest solar power complex at present. In January, the Solar 1 factory of the BP Solar JSC in Ninh Thuan officially generated electricity for the national grid. With the capacity of 46MWp, it is designed to produce … [Read more...] about Solar power projects mushroom in Vietnam

The Ke Ga offshore wind power project is expected to have total capacity of 3,400MW, making it the world’s biggest project of its kind at present (Illustative photo: VNA) Hanoi (VNA) – French bank Société Générale has been chosen to be the financial adviser for the initial phase of the Ke Ga offshore wind power project – the world’s biggest project of its kind at present. An agreement on this effect was recently inked between the UK’s Enterprize Energy – the project’s investor – and Société Générale. The Ke Ga offshore wind power project is planned to cover 2,000sq.km. of water surface about 20 – 50km from the coast of the south central province of Binh Thuan. It is expected to have total capacity of 3,400MW. Founder and Chairman of Enterprize Energy Itan Hatton said to help accelerate the provision of low-cost energy from offshore wind power for Vietnam, his firm has invited … [Read more...] about French bank named financial adviser for Ke Ga wind power project

Illustrative image (Source: VNA) Quang Tri (VNA) - The authorities of the central province of Quang Tri has approved plans to develop wind power projects in the locality with a total investment of 5.24 trillion VND (over 225.3 million USD). Accordingly, the provincial People’s Committee allowed Huong Phung Wind Power Company Limited to invest in the 30MW Huong Phung 3 wind power plant on an area of 9 hectares in Huong Phung commune, Huong Hoa district. The project has a total investment of over 1.58 trillion VND. Meanwhile, GELEX Quang Tri Energy JSC has been licensed to build GELEX 1, 2 and 3 wind power plants, with a capacity of 30 MW each. With a combined investment of 3.66 trillion VND, the projects will cover about 24 hectares in Huong Hoa and Dakrong districts. All the four projects will be implemented from 2019-2021, with an operation duration of 50 years. In recent time, Quang Tri has attracted many strategic investors who have potential in capital and technology … [Read more...] about Quang Tri: Over 225 mln USD to be invested in wind power projects

The Mekong Delta province of Bac Lieu has rejected the proposed Cai Cung thermal power plant project in a bid to protect the environment for high-tech shrimp farming. (Source: VNA) Bac Lieu (VNA) – The MeKong Delta province of Bac Lieu has rejected a project to build Cai Cung thermal power plant, saying that it wants to become a national centre of renewable energy and a large producer of shrimp farming. The Japanese-invested project was expected to improve Bac Lieu’s gross domestic product (GDP) rapidly, just as existing Duyen Hai thermal power plant has done in the neighboring province of Tra Vinh, experts said. Since the Duyen Hai thermal power plant began operation, Tra Vinh province’s GDP has increased from 6 percent to 12 percent. Duong Thanh Trung, Chairman of Bac Lieu province’s People’s Committee, said that, even with the latest technology and equipment, the plant would have caused environmental problems as it would require a big area for … [Read more...] about Bac Lieu refuses thermal power project

Thailand’s largest solar energy company, Superblock Pcl., plans to invest $1.76 billion to install 700 megawatts (MW) of wind farms in Vietnam. Vietnam currently has a wind power capacity of 140MW and is planning to reach 6,000MW by 2030The first phase of the investment will cost about $650 million and consist of three near-shore farms with 142MW of capacity in Bac Lieu, 98MW in Soc Trang, and 100MW in Ca Mau province, all in southern Vietnam.The second phase (360MW) will also be built in these three provinces and construction will begin when the first phase concludes.Jormsup Lochaya, chairman of Superblock Pcl. said that the construction of these projects has already begun and expects the sites to be operational by 2020.Vietnam’s population is very young and the growing economy and industries will increase power consumption by 10 per cent annually, making it an important market.“Ho Chi Minh City and Hanoi have similar problems and Vietnamese people want clean and … [Read more...] about Thai company pours $1.76 billion into Vietnamese wind power projects