Ninh Thuan signs yet another renewable power project
Ninh Thuan signs yet another renewable power project
A Canadian investor has plans to invest in the renewable power sector in the central province of Ninh Thuan as a reaction to the increase in unimplemented renewable power projects in the country.
The Canadian company, CMX Renewable Power Group, has recently attended a working session with the leadership of the Ninh Thuan People’s Committee to propose a $150 million solar power project.
Accordingly, once the project is approved, the investor will construct a 250 hectare facility where it committed to using local workers as well as local materials. In addition, CMX will supply 1 per cent of the solar farm’s power capacity to local people each year free of charge.
Deputy Chairman of the Ninh Thuan People’s Committee Pham Van Hau said that Ninh Thuan had always welcomed investment capital in the renewable energy sector because these projects would play an important role in the province’s socio-economic development and contribute to supplying renewable energy sources for the country.
Previously, a joint venture between Binh Nam Bac Investment Trading Co., Ltd. and Leverage Company from Japan expressed their interest in investing in a renewable energy project in the province.
Ninh Thuan's greatest potential lies in the development of wind energy projects. As Vietnam's wind energy hub, the province has licensed many investors to develop wind power plants here. For example, in mid-2014, Power Generation Corporation 2, a subsidiary of state-run Electricity of Vietnam (EVN), kicked off the Cong Hai 1 wind-to-power project in Suoi Gieng hamlet in Cong Hai commune. The project, worth over VND1.5 trillion ($69.76 million), is being constructed in two phases.
To date, Ninh Thuan has had plans for 12 wind-to-power projects, many of which have already been licensed. They include the Phuoc Nam renewable energy project, Enfinity, Mui Dinh, and Cong Hai projects.
