42 wind power projects permitted to operate commercially
A total of 42 wind power plants featuring a total capacity of 2,131.3MW have been approved for commercial operation as of mid-November, according to data released by Electricity of Vietnam (EVN).
Some of the major plants to name are Phuong Mai 1, Huong Tan, Tan Linh, Nhon Hoa 1, Nhon Hoa 2, BT1, Win Energy Chinh Thang, Lien Lap, Gelex 2, Ea Nam, Hoang Hai, Phong Huy, Phuoc Minh, Ia Bang 1, and Ia Pet - Dak Doa 1.
The Ministry of Industry and Trade has recently updated Vietnam’s national power development master plan for 2021-2030 with a vision to 2024 (Power Development Plan VIII) for comments and recommendations from scientists and experts, as well as business associations from Europe, the United States, Japan, the Republic of Korea and others.
Compared to the March draft plan, the November update encourages the development of clean, renewable energy sources in line with greenhouse gas emission reduction commitments made by Prime Minister Pham Minh Chinh at the recent 26th UN Climate Change Conference (COP 26) in the United Kingdom.
Currently, Vietnam imports fossil fuels for several thermal power plants. However, in its updated plan, the Ministry of Industry and Trade suggested reducing thermal power and developing renewable energy, including offshore wind power which it said will be given priority in the near future.
The wind power industry has been heavily affected by the Covid-19 pandemic, and many countries have been taking measures to help the industry overcome difficulties.
Vietnam’s commitment to increasing its energy capacity using renewable sources and favourable macroeconomic conditions may create valuable opportunities for wind investors and developers.