Phu Yen province receives wind power mega project
Phu Yen province receives wind power mega project
A wind power project has just officially received the investment certificate at the Phu Yen Investment Promotion Conference on January 19.
This 300-megawatt project called HBRE-Phu Yen Wind Power Plant will be invested by HBRE Phu Yen Company.
HBRE-Phu Yen Wind Power Plant will be constructed in Tuy An district with the total investment of over VND9 trillion ($396.5 million).
According to Ho Ta Tin, chairman of HBRE Group, to successfully receive the certificate, the investor has conducted research and constructed several wind stations to measure technical statistics related to the feasibility of the project for over a year.
“With the average wind speed of 7-8 metre per second, the site has huge potential for generating electricity,” Tin added.
Following the design, the project is going to construct 100 wind turbines. These turbines are expected to use equipment and technology exported from the US and Europe, costing around 60-70 per cent of the total investment.
Tin said that the documents for investment implementation are in progress so that construction works can start in late 2018.
HBRE-Phu Yen Wind Power Plant is co-funded by world-leading groups in the renewable energy sector. “After considering a number of prestigious investors around the world, we gave the best marks to those from Singapore. They have rich experience, cutting-edge technology, high credit, and firm financial strength as well as strong determination to carry out the project, so we decided to collaborate with them,” Tin shared.
According to Lim Tian Michael, head of Business Development & Commercial Asset Management (Renewables)–Sembcorp Utilities at Sembcorp Industries, after 20 years of investing in Vietnam-Singapore Industrial Parks (VSIPs), the future investment strategy of Sembcorp will be expanding investments into renewable energy in Vietnam, including wind power.
“Based on Semcorp’s stringent examination and assessment, we consider that the project is a great investment in Vietnam, so the two parties have discussed collaborating and further details related to the project in Phu Yen. This is also the very first wind power project as well as the first one in Vietnam that Sembcorp implements with HBRE Group,” Michael noted.
Speaking of the renewable energy sector, Michael added that even though Sembcorp has not directly invested in or collaborated to carry out any projects yet, the group has conducted a number of projects of this kind with the total capacity of over 2,000MW around the world.
“Before making the decision to co-operate with HBRE, Semcorp has thoroughly examined the project as well as HBRE Group. HBRE Group is our ultimate partner for this project. Thus, we believe we will achieve great success.”
HBRE Group is a professional investor in wind power in Vietnam. The group has invested in phase 1 of the construction and operation of the wind farm in Ea H’Leo district in the Central Highlands province of Daklak. This project has a total capacity of 28MW, total investment of VND1.4 trillion ($62 million), and is expected to come into operation in the middle of 2018.
In addition, the group has received approval from the Gia Lai People’s Committee to conduct research on feasible investment into a wind farm project with the total capacity of 80MW in Gia Lai. In the central province of Ha Tinh, HBRE Group is analysing investment opportunities for a 120MW wind farm project.
According to the Global Wind Atlas produced by TrueWind Solutions in 2001, Vietnam had the biggest potential for wind power among the four countries of Vietnam, Laos, Cambodia, and Thailand. The Central Highlands and the Central Coast of Vietnam were found to have considerably good wind speed for such projects.
