Construction Frontline

One Belt One Road Information: Vietnam Signs MOU for 560MW Wind Power

Seetao 2020.11.04
  • The wind power project is expected to be put into operation by the end of 2021, with a total investment of up to 1.05 billion US dollars

Queen Capital Finance signed a memorandum of understanding with Lee&Lee Co., Ltd. and Tianfu Energy Co., Ltd. on the joint development of two wind farm projects with a total installed capacity of 560MW in Binzhi Province. This is currently the largest wind power project in the Mekong Delta, with a total investment of US$1.05 billion.

The wind power project is developed in two phases, one of which has an installed capacity of 60MW, and is expected to be put into operation by the end of 2021. When the second phase of the project starts, it will become the largest wind power project in the Mekong Delta, with a total investment of up to 1.05 billion US dollars, including an offshore wind farm with a capacity of 430MW and a 130MW onshore wind farm.

The Queen Capital Finance Investment Fund has committed to provide funding of between 120 million and 150 million US dollars for the project to develop 60MW (phase 1), and continue to provide funding to develop 500MW (phase 2), which is expected to begin in early 2022.

Once put into operation, the two wind farms are expected to produce 1,700GWh of commercial power annually, create more than 200 jobs for local residents, and contribute more than 400 billion VND in tax revenue to the local treasury. The project will make a significant contribution to the sustainable social and economic development of Binzhi Province. Editor/Sang Xiaomei

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