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INVESTMENTOPPORTUNITIES

UK’s Enterprize Energy proposes US$12-billion wind power project in Vietnam

Updated at Monday, 10 Dec 2018, 12:34
The Hanoitimes - The first phase of the project is scheduled to be completed and put into operation by 2022.
UK’s Enterprize Energy has proposed a potential US$12-billion wind power project offshore Vietnam’s Binh Thuan southern province, considering it a new breakthrough for the country’s economy, Dau Tu newspaper reported. 
 
Overview of the conference. Source: Bao Dau Tu.
Overview of the conference. Source: Bao Dau Tu.
Under the investor’s proposal, the Ke Ga Offshore Wind Power project would cover an area of nearly 2,000 square kilometers with a power generating capacity of 3,400 megawatts (MW). 

According to Enterprize Energy, its local project partners include Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro), Petroleum Equipment Assembly and Metal Structure (PVC-MS), and Power Engineering Consulting company (PECC3). 

Following an agreement signed between Enterprize Energy, Vietosvpetro and PVC-MS in early 2018, the latter two companies would be responsible for construction, design of steel structure and power stations offshore, as well as connecting underwater cables and power grid.

Additionally, wind turbines would be provided by Mitsubishi Vestas Offshore Wind (MVOW), a joint venture between Vestas Wind Systems A/S and Mitsubishi Heavy Industries, while the project’s financial provider is Societe Generale. 

Enterprize Energy’s Chairman and Founder Director Ian Hatton said the project would be invested in phases with capacity of 600MW in each, adding that Binh Thuan’s local authority has given its strong support. 

The first phase of the project is scheduled to be completed and put into operation by 2022, he informed. However, as the project has not been included in the national master plan for power development, it is unclear whether the project is eligible for preferential price of 9.8 US cents per kWh. 

The decision would be subject to Prime Minister Nguyen Xuan Phuc, Hatton said, expecting this would be approved before its operation period as a condition for the project to apply for the preferential price. 

Nguyen Van Thanh, deputy head of the Electricity and Renewable Energy Agency under the Ministry of Industry and Trade, stated that the wind turbines could reach operational time of 4,000 – 4,500 hours per year, thanks to favorable wind speed. 
Ngoc Mai
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