Gov’t injects US$1 billion in Mekong wind power plan

Vietnam Development Bank (VDB) on Tuesday signed a credit agreement worth US$1 billion with Export-Import Bank of the U.S. to fund a major wind power development plan in the Mekong Delta in 2011-2015, said Nguyen Viet Cuong, general director of VDB’s Transaction Office 2.

Deputy Prime Minister Vu Van Ninh earlier approved the memorandum of understanding signed between VDB and Ex-Im Bank of the U.S. on the credit. VDB is now funding wind power projects in the Mekong Delta province of Bac Lieu thanks to the huge credit loan from Ex-Im Bank.

The first generator of the project has been installed. In the first phase, investor Cong Ly Trading and Tourism Co. is now installing five generators this year and five more will be implemented for the plant to produce electricity by next year. The VND4.5 trillion Bac Lieu Wind Power project has 66 generators installed along the beach with a combined capacity of 99MW.

Because the mobilized capital is from Ex-Im Bank of the U.S, all equipment for the wind power project will be provided by U.S. firm General Electric, Cuong said. At present, the country has issued licenses to over 20 wind power projects. They are mostly located in coastal regions of central provinces such as Ninh Thuan, Binh Thuan, Lam Dong and the Mekong Delta.

By LM

Same Category

Efficient and Economical Energy Use in Wood Production

10/11/2024

Energy Savings in the Seafood Processing Industry 21/10/2024
Energy Efficiency in Cement Production 21/10/2024
Implement energy recovery solutions, Toshiba Asia Industrial Products Co., Ltd. saves nearly 1 billion VND/year 19/10/2024
Phu Tho accompanies enterprises to promote the energy efficiency and conservation 18/10/2024

Energy Consumption at Viet-Sing Steel is 0.4% lower than the whole industry standard 16/10/2024

The energy audit report conducted by Viet-Sing Steel in 2023 shows that the company's energy consumption is 0.4% lower than the energy consumption standard of the steel industry (as per Circular No. 20/2016/TT-BCT dated September 20, 2016, by the Ministry of Industry and Trade).
Scaling Up Energy Efficiency Models in the Textile Industry 15/10/2024

With the potential to save about 20% of energy consumption, textile enterprises increasingly focus on implementing energy-saving solutions.
Energy efficiency and conservation measures at Van Dien Fused Magnesium Phosphated JSC 13/10/2024

In July 2024, Van Dien Fused Magnesium Phosphate JSC conducted an energy audit. Energy audit experts assisted the company in identifying the optimal solutions for further energy-saving implementations.
Paper Industry's Efforts to Save Energy 10/10/2024

Energy costs account for 20-30% of total production expenses in the paper and pulp manufacturing sector. Experts believe that the potential for energy savings in this industry is substantial.
Energy efficiency and conservation measures for industrial enterprises 06/10/2024

Energy efficiency and conservation usage in industry are crucial to the development of the economy and society while ensuring national energy security.
Promoting innovative startups in the field of energy efficiency 05/10/2024

Energy efficiency is not just about using less energy, but also about using energy intelligently and optimally. In the context of increasingly scarce energy resources and the threat of climate change, improving energy efficiency has become an urgent task for every country and individual.
Thua Thien Hue: Businesses partner with energy efficiency program 04/10/2024

Many businesses in Thua Thien Hue Province have adjusted their operations, shifting production to off-peak hours and optimizing equipment to support the power sector’s electricity efficiency initiatives.
Hoa Sen Nghe An implemented energy management and savings 03/10/2024

Hoa Sen Nghe An Co., Ltd. prioritizes implementing energy management solutions and advanced technical solutions aimed at efficient energy use, a top concern for the company.