Le Thuy lures in foreign investors to wind power sector
Le Thuy lures in foreign investors to wind power sector
The enthusiasm of UPC Renewable Asia I Limited to develop two wind power plants in Le Thuy district of Quang Binh province, suggests Le Thuy might become the favourite destination of foreign investors in the wind power sector.
According to the latest developments, on March 20, a representative of UPC Renewable Asia I Limited returned to Le Thuy to conduct a survey and measure wind power to develop projects.
According to Phan Van Thuong, director of the Department of Industry and Trade of Quang Binh province, the province permitted the investor to install a wind tower to measure wind power. According to the regulations, the investor will be allowed to develop its project after 12 months of installing the wind tower.
At present, the investor has also completed the dossier to submit to the Ministry of Industry and Trade and the prime minister for approval.
Quang Binh is considered a dry land with little potential for economic development, while UPC is considered one of the world’s leading firms in develop renewable projects on all terrains, including mountainous, desert, even volcanic areas.
Thus, UPC’s investment is expected to open new opportunities for the province.
Regarding the potential to develop renewable projects, Pham Quang Nam, Secretary of the Le Thuy Party Committee, stated that the weather conditions of Le Thuy are suitable for solar power and wind power projects.
Previously, in January this year, the group joined a working session with leaders of the Quang Binh People’s Committee and relevant authorities to report on its plan to develop the two wind power projects named UPC-Le Thuy and UPC-Quang Binh.
Notably, UPC will pour VND2 trillion ($87.68 million) into building the UPC-Le Thuy wind power plant on an area of 16 hectares and VND10.2 trillion ($447.18 million) into UPC-Quang Binh on 130ha. Once the two plants come into operation, they will generate 158 million and 760 million kWh per year, respectively.
According to information from the Quang Binh Department of Planning and Investment, along with UPC, numerous other investors have registered to implement wind power projects in Le Thuy.
Accordingly, B&T Windfarm JSC aims to build two projects with a total capacity of 200MW in Quang Ninh and Le Thuy districts. Additionally, Tan Hoan Cau Group has proposed building a 300MW project in Minh Hoa district.
Dohwa Group from South Korea has constructed a 49.5MW solar project. Being one of Dohwa’s renewable energy complexes, it has a total investment capital sum of $55 million and is expected to generate power by the end of this year.
