Out-Law News | 22 Apr 2021 | 9:12 am | 1 min. read
Vietnam’s energy company Trung Nam Group has put its 152 megawatts (MW) wind power plant into operation. It has been described as the largest wind power plant in Vietnam.
The plant spans over 900 hectares in Loi Hai commune and Bac Phong commune, Thuan Bac district, Ninh Thuan province and cost VND4 trillion ($173.4 million).
The new plant, combined with another 204MW solar park that started operation in 2019, have formed a solar-wind plant complex which will supply a total 950 kWh annually for Vietnam’s electricity grid, according to Trung Num.
John Yeap of Pinsent Masons, the law firm behind Out-Law, said: “Vietnam’s onshore renewables story over the past half a decade or so has been one of tremendous success. Local debt and equity funders have embraced the opportunities that have been presented through the feed in tariff mechanism for solar and on shore wind. With a policy shift in Vietnam’s national power development plan VIII (PDPVIII) away from coal, renewables will play an increasingly important role in Vietnam’s energy mix.”
“Challenges ahead however need to be managed, including the ability of the grid to absorb the increased proportion of intermittent generation, as well as the involvement of foreign debt and equity which will be required if the full extent of Vietnam’s ambitions for renewables, such as the commissioning of large offshore wind projects to capitalize on its extensive wind resources, are to be realized, “ he said.
Trung Nam has added a total 1.064 gigawatts (GW) to Vietnam’s grid including hydropower, solar and wind power. It plans to have 10GW renewable output by 2027.
Vietnam has planned to achieve a total installed capacity of 137.2GW by 2030 with 29% from wind power, solar and renewables, and to have 44% renewables among a total installed capacity 276.7GW by 2045.