M’sia investor eyes wind power project

May 17, 2012 | 08:47

(0) user say

Malaysia’s wind power group Timur has signed a memorandum of understanding with Ninh Thuan Province to invest $800 million in developing wind power, said Nguyen Duc Thanh, chairman of the provincial government.

Timur has started making the project plan for submission to provincial authorities as soon as possible.

The move is in line with a policy on wind power development made by the provincial government as the central province of Ninh Thuan holds high potential of wind power.

As of now, the province has given approval to investors to survey 14 wind power plants and five out of that have been granted investment certificates.

Two wind power plants are estimated to commence construction from now to the year-end, according to the province’s Department of Industry and Trade.

Having a designed capacity of 50MW, the first plant developed by Vietnam Renewable Energy JSC requires US$125 million while the second one is invested by Germany’s EAB Group with the same scale.

To date, many large-scale wind power projects have been under construction or are being prepared for development in the country.

For instance, Bac Lieu Province is home to the 300-MW wind power plant invested by Cong Ly Co. at a cost of $200 million. The investor is preparing to deploy the first phase of this project.

Cong Ly Co. is now seeking approval from the HCMC government for another project to build a 200-MW power plant in the outlying district of Can Gio with huge investment capital of VND10 trillion.

Meanwhile, Binh Thuan has seen the 7.5-MW power plant developed by Vietnam Renewable Energy JSC generating power to the national grid. The province has also given the green light to two other wind energy plants namely Thuan Nhien Phong invested by Renergy Corp. and Thuan Binh invested by Vietnam Electricity Group with a respective designed capacity of 50 MW and 24 MW.

SaigonTimes

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional