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VietNamNews

Investment pact to boost green energy

Update: November, 26/2014 - 09:31
HBRE Wind Power Solution Ltd and Huy Hoang Transportation & Logistics Corporation signed an agreement to contribute to Tay Nguyen sustainable development and development of renewable energy in Viet Nam.— VNS

HCM CITY (VNS) — HBRE Wind Power Solution Ltd. and Huy Hoang Transportation & Logistics Corporation signed a framework agreement for a comprehensive strategic partnership to promote investment efficiency in renewable energy projects in Viet Nam.

HTL will become the contractor for the entire process from designing and supplying materials and equipment to construction, testing, and handing over to HBRE.

HBRE is the first company to invest in a wind power project in the Tay Nguyen (Central Highlands) region.

The two companies will first co-operate to implement phase I of the Tay Nguyen wind power project in Dak Lak Province. HTL also will become an investor in this project, buying a 25 per cent stake for VND150 billion (US$7.14 million).

The plant will be located in Dlie Yang Commune, Ea H'Leo District, Dak Lak Province.

Some of the world's leading wind turbine manufacturers like VESTAS and GE have assessed the Tay Nguyen region to have the highest potential for wind energy in Viet Nam with an average wind speed of 7-7.6 metres per second.

Licensed by the Dak Lak People's Committee, HBRE Wind Power Solution is well prepared to implement the project, which will have an expected total capacity of 120 MW, in three phases from now through 2020.

Phase I with a capacity of 28MW and costing nearly 1.4 trillion is expected to generate electricity starting in June 2016. It will produce more than 100,000,000kWh per year.

After the third phase, it will become the largest wind farm in Viet Nam with a capacity to produce 400 million kWh per year, equivalent to the demand from 200 thousand households.

The co-operation between HBRE and HTL will guarantee the progress as well as quality of the Tay Nguyen wind farm project.

It is also a crucial step in a comprehensive strategic co-operation between two parties in implementing green and clean energy projects in Viet Nam in future.

Tran Viet Hung, deputy head of the Central Highlands Steering Committee, said: "Tay Nguyen has great potential for wind energy. According to a recent study by the Ministry of Industry and Trade, Tay Nguyen accounts for 25 per cent of the country's total wind power capacity.

"Concentrated in Dak Lak and Gia Lai provinces, there is a capacity to produce 1350MW." — VNS

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