Hanoi (VNA) – Foreign investors haveshown considerable interest in developing wind power in Vietnam.

The People’s Committee of the Mekong Deltaprovince of Tra Vinh has allowed three investors to finance the construction ofthe Hiep Thanh wind power plant, with a total investment of 3.37 trillion VND(144.3 million USD).

Of the figure, 20 percent was contributed byinvestors, including Hanoi-based Ecotech Vietnam company, Janakuasa SingaporePte, Ltd, and Lam Minh – a resident in Hanoi’s Ba Dinh district. The remainderwas borrowed from German bank Landesbank Baden-Wurttembrg (LBBW).

Investors set up the Ecotech Tra Vinh RenewableEnergy JSC to carry out the project, the duration of which is 49 years.

General Director of the company Lam Minh saidthe project has been included in the provincial power development plan for2016-2025 with a view to 2035, approved by the Ministry of Industry and Tradeon May 19, 2016. It is expected to be put into operation in the first quarterof 2020.

President and CEO of Janakuasa Vietnam Ti CheeLiang said the Malaysian energy firm is building its first project, Duyen Hai 2thermal power plant in Duyen Hai commune of Tra Vinh province, with a capacityof 1,200 MW and an investment of around 2.2 billion USD.

The project is part of the national electricitydevelopment scheme for the 2011-2020 period with a vision to 2030, he said,adding that Vietnam has become one of the countries with the most developmentpotential in ASEAN.

He hopes that the Vietnamese Government willstudy and recalculate the price of wind power – which is worth 7.8 cents perkWh – at a more reasonable level to ensure fairness between renewable energy resources.

During the construction of the wind power plantin Tra Vinh, investors are responsible for complying with local requirements, inparticular ensuring environmental protection and minimising the effects to thelocal aquaculture, he said.

Thailand’s Ratchaburi Energy Co. Ltd is alsokeen to develop renewable energy, particularly wind power in Vietnam. Itsdirector Peerawat Pum Thong said the company hopes to invest in the field andhelp Ecotech implement the project.

The Hiep Thanh wind power plant is the fourth ofits kind to receive an investment licence from local authorities. Previously,the province granted investment licences to three wind power projects with acombined capacity of 192MW in Truong Long Hoa commune of Duyen Hai town, andDong Hai commune of Duyen Hai district. 

According to the provincial wind powerdevelopment plan through 2020 with a view to 2030 approved by the Ministry ofIndustry and Trade on December 4, 2015, Tra Vinh plans to build six wind powerprojects in coastal areas in Duyen Hai district and Duyen Hai town, includingthree in Truong Long Hoa commune, two in Hiep Thanh commune, and one in DongHai commune.

Under the national energy development strategy,Vietnam will strive to increase the usage of new and renewable energysources to 5 percent of the total commercial primary power by 2020, and 11percent by 2050. 

The country also aims to increase the totalcapacity of wind power to 1,000 MW by 2020 and 6,200 MW by 2030.–VNA