Khe Sanh Wind Power proposes over 50 per cent foreign stake in Quang Tri Wind Farm

December 05, 2023 | 16:34

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Quang Tri People's Committee has reportedly received a proposal from Khe Sanh Wind Power JSC, the investor behind the Amaccao Quang Tri 1 Wind Farm project. The communication outlines plans for a significant shift in the company's shareholding structure, with a proposal to transfer a portion of its shares to a newly established Vietnamese company with over 50 per cent foreign ownership.

Khe Sanh Wind Power proposes over 50 per cent foreign stake in Quang Tri Wind Farm

The company's move to negotiate a partial share transfer to a Chinese investor highlights a growing trend of cross-border investments in Vietnam's green energy sector.

Among the prospective Chinese investors are Hong Kong-based CNNC Overseas International Investment Limited and Zhongyuan Foreign Engineering Co. Ltd., headquartered in Beijing.

A representative from Khe Sanh Wind Power JSC elaborated on the strategic rationale, stating, “The envisaged share transfer is part of a broader strategy to leverage international expertise for enhancing the project's operational efficiency and longevity.”

In response to this development, the Quang Tri People's Committee is consulting with the Ministry of Defence and the Ministry of Public Security. The consultations aim to assess the implications for national security and land use policies, particularly in the strategic mountainous and border regions where the wind farm is located.

Amaccao Quang Tri 1 Wind Farm, with an investment of approximately $84.39 million, spans several communes in the Huong Hoa district. It comprises 12 wind turbines, collectively capable of producing nearly 50MW of power.

The project, scheduled to operate for 50 years from the date of investment approval, signifies a major commitment to sustainable energy in Vietnam.

Established in July 2020, Khe Sanh Wind Power JSC focuses on electricity production.

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By Trung Duong

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