Renewable Energy in Vietnam - H12020 Update
Renewables investor Copenhagen Infrastructure Partners (CIP) signed a MoU with a provincial government in Vietnam to develop a 3.5 GW offshore wind project, with an estimated cost of USD 10BN
Vietnamese energy firm Asiapetro and Novasia will also participate.
A subsidiary of Thai energy firm Super Energy has obtained a USD 38m loan for the acquisition of a 50 MW solar project in Vietnam.
In Apr-20, Super Energy agreed to invest up to USD 456m in three other solar projects in Vietnam, with a combined capacity of 550 MW.
Climate Fund Managers and ST International have agreed funding for the 78 MW Hiep Thanh nearshore wind farm in Vietnam's Tra Vinh province, which has a project cost of USD 150 MN
Ecotech and Janakuasa are the local partners in the project.
AC Energy, an arm of the Philippines' Ayala Corp., has tied up with UPC Renewables to develop two wind power projects with a combined capacity of 60 MW in Vietnam's Mekong delta.
AC Energy and UPC Renewables have developed the 81 MW North Luzon project in the Ilocos Norte region of Philippines and a 75 MW wind farm in Indonesia.
Thailand's Ratch Group has agreed to buy the majority of a USD 45m, 29.7 MW wind project in the Ben Tre province of Vietnam - its first acquisition in the country. The project is slated to be operational by Sep-21
Vietnam’s Ministry of Industry and Trade (MOIT) filed a report to the Prime Minister’s office proposing an extension for the wind Feed-in Tariff (FiT) that was set to expire in November 2021. The key points of MOIT’s extension recommendation include:
Extend the period of the fixed Feed-in Tariff for wind power projects in Decision 39 to 31 December 2023.
Assign MOIT to propose to the Prime Minister a new Feed-in Tariff for wind power projects having commercial operation date from 1 November 2021 until the end of 31 December, 2023.
After 2023, wind power projects will be awarded through an auctioning mechanism.
Trung Nam Group plans to build a VND 14trn (USD 592m), 450 MW solar power plant in the Phuoc Minh commune of Ninh Thuan province, as per government portal (http://www.chinhphu.vn/portal/page/portal/English)
Sales process for Vietnam Trading Engineering Construction Joint Stock Corp.'s (Vietracimex) 250 MW Hong Phong 1 and 2 solar parks in Binh Thuan province.
Vietracimex is also building the 195 MW Hoa Thang wind project, also in Binh Thuan.
Thailand's Gunkul Engineering has agreed to buy two Vietnamese solar plants with a collective capacity of 60 MW for THB 1.8bn (USD 61m). The listed Thai engineering company plans to expand its renewable power plant business in domestic and international markets
CLP is exploring Thailand and Vietnam renewable investments. As part of CLP's decarbonization strategy, the Hong Kong utility plans to exit from two legacy coal projects in Vietnam.
It will consider expanding its renewable energy footprint in Vietnam and Thailand, where CLP owns the Lopburi solar plant.
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