Vietnam-Japanese consortium interests in renewable energy project

April 28, 2016 | 13:00

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A joint venture between Binh Nam Bac Investment Trading Co., Ltd and Japan’s Leverage Company has expressed their interest in investing in a renewable energy project in the central province of Ninh Thuan.

On April 28, the joint venture attended a working session with the Ninh Thuan People Committee to survey the area. The provincial leader requested the local authorities to supply specific information about investment environment for investors.

Deputy Chairman of the Ninh Thuan People’s Committee Pham Van Hau said that Ninh Thuan always welcomed investment capital in the renewable energy sector because these projects played an important role for the province’s socio-economic development and contributed to supplying more renewable energy sources for the country.

Both above companies have various experience in designing and implementing renewable energy projects. Especially, Leverage has invested in numerous wind as well as solar power projects in Japan.

Over the past few years, several foreign and local investors have proposed building renewable energy projects in the country.

According to the data released by the Ministry of Industry and Trade, a total of 50 wind power projects have been registered but only five saw implementation. Three of these, namely Tuy Phong in Binh Thuan, with a capacity of 30MW, a 6MW wind power project on Phu Quy Island in Binh Thuan, and the 99 MW Bac Lieu wind farm, are generating commercially.

Regarding solar power projects, these include a $55.8 million solar power project proposed by a South Korean company in the southern city of Can Tho, and a proposal for a $240 million solar project by a consortium between South Korea’s Woojin and Kunhwa in the central province of Quang Nam, among others.