Investment
Ninh Thuan Province attracts investment in renewable energy
The south central coastal province of Ninh Thuan is trying to create favorable conditions to lure investment in developing wind and solar power towards ensuring sustainable development of the power sector and contributing to national energy security.
So far the province has granted investment licences to 8 wind power projects with a combined capacity of 514 MW, and total capital of 19.7 trillion VND (866.9 million USD). Construction work has started on four projects, namely Mui Dinh, Cong Hai 1, Trung Nam and Dam Nai.
The 40 MW-Dam Nai wind power plant was connected to the national grid in September with an initial three turbines with a combined capacity of 6MW in the first phase. The second phase will see the installation of 13 more turbines, expected to be completed in October 2018, raising the plant’s capacity to 40MW.
Besides, the provincial People’s Committee has granted approval to investment plans of three solar power plants and allowed 30 other potential investors to survey locations in the province.
The locality is completing its planning for solar power development from 2016-2020 with a vision to 2030 to submit it to the Ministry of Industry and Trade for approval, thus laying the legal foundation for attracting investors, and receiving investment from the central budget for the transmission network serving renewable energy production.
Incentives in terms of land, taxes and infrastructure will be offered to investors, according to the provincial Department of Planning and Investment.
Director of the Department Pham Dang Thanh said renewable energy is identified as an advantage to create a boost to the development of other economic sectors, adding that every investment project has been considered on both socio-economic and environment aspects.
Ninh Thuan aims to increase local wind power capacity to 1,429 MW, and solar power capacity to 4,848 MW by 2030. A survey by the World Bank has found that Ninh Thuan has the greatest wind speed of the nation, averaging 7.5 metres per second for 10 months a year, an ideal condition for developing wind power. The province also has the average sunshine duration of 7.7 hours a day.
The 40 MW-Dam Nai wind power plant was connected to the national grid in September with an initial three turbines with a combined capacity of 6MW in the first phase. The second phase will see the installation of 13 more turbines, expected to be completed in October 2018, raising the plant’s capacity to 40MW.
Besides, the provincial People’s Committee has granted approval to investment plans of three solar power plants and allowed 30 other potential investors to survey locations in the province.
The locality is completing its planning for solar power development from 2016-2020 with a vision to 2030 to submit it to the Ministry of Industry and Trade for approval, thus laying the legal foundation for attracting investors, and receiving investment from the central budget for the transmission network serving renewable energy production.
Incentives in terms of land, taxes and infrastructure will be offered to investors, according to the provincial Department of Planning and Investment.
Director of the Department Pham Dang Thanh said renewable energy is identified as an advantage to create a boost to the development of other economic sectors, adding that every investment project has been considered on both socio-economic and environment aspects.
Ninh Thuan aims to increase local wind power capacity to 1,429 MW, and solar power capacity to 4,848 MW by 2030. A survey by the World Bank has found that Ninh Thuan has the greatest wind speed of the nation, averaging 7.5 metres per second for 10 months a year, an ideal condition for developing wind power. The province also has the average sunshine duration of 7.7 hours a day.
