Renewable energy investment developing

09:09 | 07/07/2017 Energy

(VEN) - Large businesses have invested several billions of Vietnamese dong in wind and solar power projects in Vietnam. The majority of these investors have used Vietnamese technologies.  

renewable energy investment developing

Solar ESCO Joint Stock Company, a member of the Vietnamese renewable energy firm SolarBK, is building a solar power system for the Tan Cang-Song Than ICD’s Logistics Center in Binh Duong Province’s Thuan An Commune. The project has a total capacity of 500.96 kWp, and is expected to be completed in September 2017. Nguyen Thanh Son, director of Tan Cang-Song Than ICD, said the project will meet 30 percent of the center’s power demand within 12 years, generating about 784,218 kWh of electricity annually, thus contributing to reducing CO2 emissions by 518.5 tonnes a year.

The southeastern province of Binh Thuan has ideal conditions for solar energy production - low average annual rainfall and numerous hours of sunshine. According to the plan, total capacity of wind power plants in Binh Thuan Province will reach 2,500MW by 2030. In addition, total capacity of thermal and solar power plants will reach 10,000MW and 3,819MW due to investment capital of around VND94.15 trillion by domestic and foreign investors.

Hoang Anh Tuan from the Duc Long Gia Lai Group said the group signed agreements to invest in three renewable energy projects in Binh Thuan Province with total investment capital of more than VND13 trillion.

The Duc Long Gia Lai Group will invest in a solar power plant in Thien Nghiep Commune with a capacity of 200MW and total investment capital of VND6 trillion. Duc Phu Gia Travel Company Limited (a member of the Duc Long Gia Lai Group) will invest in the renewable energy project in Tuy Phong District VND2.8 trillion. Duc Thanh Gia Lai Joint Stock Company (a member of the Duc Long Gia Lai Group) will invest in a solar power plant in Hong Phong Commune and Thien Nghiep Commune with a capacity of 150MW and total investment capital of VND5 trillion.

The Southern Power Corporation (EVNSPC) is also implementing renewable energy projects, with a focus on remote islands. Nguyen Phuoc Duc, deputy general director of EVNSPC, said the corporation is inviting bids for a project on installing solar battery in Con Dao Island with a capacity of 1.5MW.

Nguyen Ngoc Hai, chairman of Binh Thuan People’s Committee, says the province is encouraging the development of renewable energy with the goal of becoming the country’s largest solar energy center.

The Vinh