U.S. invests $700mln to support wind power development in southern province
U.S. invests $700mln to support wind power development in southern province
The U.S. Trade and Development Agency (USTDA) on March 26 awarded a US$700 million grant to a Vietnamese company to develop a 300-megawatt (MW) wind power project in Vietnam.
The feasibility study grant will assist Cong Ly Construction-Trade-Tourism Company Ltd. (Cong Ly Ltd.), a private sector firm that operates the only near-offshore wind project in Vietnam, in its efforts to develop phase 3 of the Bac Lieu Wind Farm.
“USTDA is pleased to support the increase of renewable energy production in Vietnam through the expansion of the Bac Lieu Wind Farm,” said Sarah Randolph, Country Manager for Southeast Asia, who signed the grant on behalf of the agency.
“This grant represents the next step in a series of successful partnership with Vietnam’s wind power sector,” she added.
According to U.S. Consul General Rena Bitter, the growing cooperation between USTDA and Cong Ly Ltd. is a microcosm of the expanding commercial and economic relationship that Vietnam and the U.S continue to build on.
Commercial operation for phase 1 of the wind farm commenced in August 2013, using 10 U.S.-manufactured wind turbines from General Electric that generate approximately 16MW of power.
For phase 3, the feasibility study grant will assist Cong Ly Ltd. in expanding the Bac Lieu wind farm through examination of the technical challenges that arise from an offshore wind farm location.
The study will include a wind resource and energy assessment, a review of permitting and land control issues, an electrical grid interconnection and foundation design, construction cost estimates, and a financial plan.
There are 52 GE turbines installed in phase 2, which is expected to begin generating electricity on April 30 this year.
