More Than 88,000 Billion VND Invested in Renewable Energy in Ninh Thuan

Ninh Thuan province of Vietnam is an attractive destination of foreign investors who want to invest in Vietnam energy industry.

As of June 2020, Ninh Thuan province has 34 solar power projects, 13 wind power projects that have been granted investment policy decisions, with a total capital of over 88,782 billion VND.

According to Department of Planning and Investment of Ninh Thuan province, as of June 2020, there have been 34 solar power projects/2,376.85MW and 13 wind power projects/678.95MW that have been granted investment policy decisions, with a total capital of over 88,782 billion VND, has connected to the national grid 25 projects with a total capacity of 1,556.55 MW.

Currently, some large-scale projects are being accelerated to complete in 2020, such as the Trung Nam – Thuan Nam Solar Power Plant project (450 MW) combining 220/500 kV transformer station and 500 kV, 220 kV transmission line in Phuoc Minh commune (Thuan Nam district), with a total investment of 12,000 billion VND. The completion of this project will release the capacity of renewable energy plants in Ninh Thuan and Binh Thuan areas, adding more than 1 billion kWh of electricity per year to the national electricity system.

In order to create a breakthrough, to develop quickly and sustainably, with the permission of the Prime Minister, Ninh Thuan province is the first province in the country to hire the Monitor Group of the US to formulate the provincial socio-economic development master plan of Ninh Thuan province in the period of 2011 – 2020 and vision to 2030. At the same time, hired the British Arup Group to formulate a master plan for Phan Rang -Thap Cham city development and coastal planning of the province.

According to the provincial socio-economic development master plan already approved by the Prime Minister. The province’s economic development orientation in the coming time is to build Ninh Thuan into a high quality tourist center and clean energy center of the country. In particular, priority should be given to the development of six key groups of industries, including: Energy, Tourism, Agriculture, Forestry and Fisheries, Industry, Construction and Real Estate Business, Education and Training.

Regarding energy development, Ninh Thuat province has achieved great results. The province has taken the initiative in developing the approval of the provincial Electricity Development Plan for the 2016 – 2025 period, with a vision to 2035; Ninh Thuan solar power development plan for the period of 2016 – 2020, vision to 2030 with the scale of 10,476 MW.

Especially in 2018, the province proposed and was issued a Resolution No. 115/NQ-CP by the Government on specific mechanisms and policies to support Ninh Thuan province. This is a policy of great importance to the socio-economic development of the province in the period to 2023 and the following years, with many new policy mechanisms, focusing on breakthrough industries of the province, especially the policy of building Ninh Thuan to become the center of renewable energy of the whole country.

This policy allows Ninh Thuan to enjoy the preferential electricity price mechanism of 9.35 Uscent/Kwh with a capacity of 2,000 MW until the end of 2020; developing Bac Ai accumulating hydroelectricity (capacity of 1,200 MW); Ca Na electrification center (LNG) (scale of 1,500 MW) …

Thanks to the large investment capital poured into renewable energy projects, Ninh Thuan’s GRDP in the first 6 months of 2020 reach 8,967 billion VND, increase by 8.46% over the same period; State budget revenue reached 1,770 billion VND; total investment capital of the whole society is estimated at 18,450 billion VND…

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Wind Power: The Inevitable Trend of Sustainable Development

With the increasing demand for electricity, Vietnam is also gradually considering investing in renewable energy, including wind power as the key to addressing energy security, contributing to the realization of the country’s green development strategy.

Energy is one of essential human needs and an indispensable input of economic activity. As the living standards of the people are improving, the level of production of the economy is more modern, the demand for energy is also growing, and satisfying this demand is a real challenge for almost every country.

The race to exploit fossil fuels at all costs of human beings is reaching the limits of nature’s endurance, causing polluted living environments, climate change, causing unrest for the welfare of the community and become one of the global non-traditional security issues, threatening the survival of humanity.

Being aware of that, many countries around the world have been switching from fossil fuel to renewable energy for sustainable development. In many areas, power source from renewable energy projects is equivalent to those from fossil fuel projects, breaking the threshold that we believed to be impracticable.

Currently, in Europe, nearly 50% of new power development projects are wind power projects. In China – the most populous country, in March 2017, the Government shut down its last coal-fired power plant in Beijing to switch to renewable and gas electricity and.

According to the IEA latest report, globally, in 2016, investments in wind and solar power have doubled investments in fossil-fuel power. Furthermore, it is estimated that wind, solar and gas powers will completely replace coal power in the next 25 years.

In Vietnam, the development of the economy has made demand for electricity surge while supply capacity has not developed in time. The Ministry of Industry and Trade has forecasted that average electricity production growth rate of Vietnam in the period 2016 – 2020 is 10.7% per year and the period 2021 – 2025 is 8.6% per year.

Therefore, the Government of Vietnam considers the exploitation and utilization of renewable energy resources have special and strategic meaning in terms of socio-economic, national security and defense, energy security, sustainable development and minimizing environmental impact.

Most experts said that Vietnam has enormous potential for wind power. According to a study by the World Bank, Vietnam has the largest wind energy potential in the region, surpassing Laos, Cambodia and Thailand.

Accordingly, Vietnam’s wind reserve is estimated at 513,360 MW, more than 6 times the estimated total capacity of the electricity sector by 2020. The World Bank study also showed that 8.6% of Viet Nam’s land area is very potential, convenient for the installation of large wind turbines. The corresponding figure of Cambodia is 0.2%, Laos is 2.9% and Thailand is 0.2%.

Understanding the general trend of the world as well as encouraging investment incentives of the Government, about 50 wind power projects have been registered for investment in Vietnam and there are 4 projects with total capacity of 159.2 MW has gone into commercial operation.

Most recently, the Phuong Mai 3 Wind Power Project in Nhon Hoi Economic Zone (Quy Nhon – Binh Dinh), has a capacity of 21 MW – 28 MW, including 14 turbines with a total investment of 40 – 50 million USD are invested by HALCOM Company and its international partners. With an area of 140 hectares, the project is expected to supply about 72 million kWh of electricity per year and reduce emissions by 40,000 tons of CO2 per year. According to representatives of HALCOM, the project will be implemented in 2017 – 2018. Once completed, the estimated revenue can reach 150 billion VND per year.

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Exxon Mobil Wants to Participate in Series of LNG Gas Power Projects in Vietnam

Exxon Mobil wants to invest in Vietnam, specifically invest in Vietnam energy sector.

The chain of ports, depots and LNG gas plant in Hai Phong has a scale of 4,000 MW and in Long An has a scale of about 3,000 MW.

In a conversation with Vietnam Prime Minister in June 2020, Global President of Exxon Mobil said that the Group wants to take advantage of opportunities and invest in the energy sector in Vietnam.

Accordingly, Exxon Mobil wants to invest in the chain of port, LNG gas storage and LNG power plants with the most modern technology in Hai Phong. The scale of the electricity production project from LNG is up to over 4,000 MW, expected to go into operation in the period of 2025 – 2030.

As for the current gas-electric chain with a capacity of about 3,000 MW in Long An, Exxon Mobil will ensure continuous supply of LNG directly from the United States and from some other countries. The import of LNG will contribute to creating a harmonious trade balance between Vietnam and the United States.

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