Singaporean, Chinese investors eye stakes in six wind power plants

By Vo Thanh   December 25, 2023 | 09:52 pm PT
Singaporean, Chinese investors eye stakes in six wind power plants
Wind power projects in Huong Hoa District, Quang Tri Province, central Vietnam. Photo by VnExpress/Vo Thanh
Singaporean and Chinese companies are interested in acquiring part or all of six wind power plants in the central province of Quang Tri.

They have sent in proposals to the province Department of Planning and Investment and it is now seeking advice from various ministries, Truong Chi Chung, its director, said.

One of the investors is Sembcorp Solar Vietnam, a subsidiary of Singaporean energy firm Sembcorp Group.

It wants to buy stakes worth VND710 billion (US$29.28 million) in Huong Phung Wind Power Co., which owns the Huong Phung 2 and 3 plants, and buy out Gelex Quang Tri Energy Co., the owner of Gelex 1, 2, and 3 plants for VND1.27 trillion.

The five plants began operation in October with an incentive feed-in tariff of 8.35 U.S. cents per kilowatt-hour for 20 years.

Two Chinese investors have offered to buy a 50% stake in the Amaccao Quang Tri 1 plant owned by Khe Sanh 9 Wind Power Jsc.

It has a capacity of 49.2 megawatts and price tag of VND2 trillion, and began operation in November 2021 at the same incentive tariff.

All six are in Huong Hoa District on the Laos border.

The department is therefore seeking advice from the government about the conditions foreign investors need to comply with to ensure national security.

Huong Hoa has become a destination of choice for wind power investors in recent years.

It has 31 plants with a total capacity of over 1,177 MW, 19 of them already operational.

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