Wind power project cost estimation

Khanh Hoa province, on the south-central coast, has recently been leading the way in attaining attraction from both domestic and foreign financiers when it comes to the gas and electricity sector. Among the suitors is one from the United States, proposing the Millennium gas power project with a forecast capacity of 14,400MW and 17 million tonnes of storage for liquefied natural gas (LNG) per year. Joining in are Embark United Co., Ltd. and US Quantum Corporation to establish a 6,000MW gas power venture and a port warehouse to receive and process six million tonnes of LNG per year. Japanese investors did also not ignore the opportunity to develop gas power projects in Khanh Hoa, as Sumitomo Corporation proposed to invest in a 3,000MW gas power scheme and a storage system for three million tonnes of LNG per year, while J-Power Co., Ltd. wants to invest in a gas turbine power project with a capacity of 3,000MW. Despite a slightly slower approach, the province is also seeing the presence of more domestic investors, led by Electricity of Vietnam which proposed a 6,000MW gas power project, while Petrolimex wants to build a warehouse for around three million tonnes of LNG per year. Those involved in the gas power sector all understand that developing such a project in Vietnam is a difficult task, as the country is still in the process of building its Power Development Plan 8 (PDP8). Nevertheless, the total installed capacity of power sources by 2030 is supposed to reach 137.2GW, of which gas accounts for 21 per cent. Tran Ky Phuc, director of the Institute of Energy under the Ministry of Industry and Trade (MoIT) – the unit in charge of building the PDP8 – said that electricity demand in this plan is calculated lower than in the revised PDP7, reducing the forecast amount by 3-4 billion kWh in 2020 and 9-10 billion kWh in 2030. Realistic needs The development of gas power sources in Vietnam is the result of the exhaustion of fossil fuels, the …

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A wind farm of Trung Nam Group in Ninh Thuận Province in the central region of Vietnam. The country aims to have 44 percent of its power from renewable energy — Photo courtesy of Trung Nam Group On February 9, the MoIT issued a draft national electricity development planning project for 2021-2030, with a vision to 2045 or the power master plan VIII and asked other ministries and agencies to contribute their ideas. With forecasts that Viet Nam's GDP growth will reach an average of 6.6 percent per year in 2031-2045 and 5.7 percent per year in 2031-2045, the MoIT forecast the supply of commercial electricity to reach 491 billion kWh by 2030, and 877 billion kWh by 2045. The draft expected by 2030, the total installed capacity of electricity sources in the country would reach 137.2 GW including 27 percent from coal-fired thermal power, 21 percent from gas thermal power, 18 percent from hydroelectricity, 29 percent from wind power, solar and renewable energy and 4 percent from the imported sources and 1 percent from other types of energy from storage devices. The MoIT’s draft said by 2045, the total installed capacity will reach nearly 276.7 GW including 18 percent from coal-fired thermal power, 24 percent from gas thermal power, 9 percent from hydroelectricity, 44 percent from wind power, solar and renewable energy and 2 percent from the imported sources and 3 percent from other types of energy from storage devices. The power master plan VIII encourages the development of renewable energy and discourages hydroelectricity. Renewables made up 13 percent of power in 2020 and are aimed to make up 30 percent by 2030 and 44 percent by 2045. Regarding the power grid development program, the plan proposes to continue building the 500kV power transmission system to transmit electricity from major power source centres in the Central Highlands, south-central, north-central and central regions to the large load centres in HCM City and the Red River Delta. It also …

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Vietnamese and Japanese firms receive support to expand operations The Japan Trade Promotion Organisation (JETRO) will host an online scheme on March 3 in Hanoi aimed at connecting Japanese businesses in the field of manufacturing and production, known as Monozukuri in Japanese term to facilitate co-operation amid the negative impacts caused the COVID-19 pandemic. According to a representative from the JETRO, the business matching programme will see the participation of 40 Japanese companies for the purpose of accelerating the development of the country’s supporting industry. At present, the scheme has received registration for 50 negotiations from enterprises from Japan, Vietnam, and Taiwan (China), whilst it is still receiving registration from businesses wishing to purchase and seek Japanese suppliers in the Monozukuri field until March 1. A recent survey conducted by the JETRO unveiled that Japanese businesses remain keen on the Vietnamese market as the country is viewed as an alternative investment destinations for Japanese enterprises looking to move away from China due to the COVID-19 pandemic. The survey indicates that approximately half of Japanese enterprises in the nation plan to expand their production activities, while roughly 70% of them seek opportunities to increase revenue in the local market. Most notably, 46.8% of Japanese enterprises unveiled that they have initiated plans to expand their business in the nation over the course of the next two years, with the expansion rate ranking fourth, the highest in the Asia-Pacific region. Japanese enterprises have therefore attributed their expansion to an increase in revenue in the domestic market and high growth potential. Furthermore, Japanese firms are also considering re-establishing some supply chains which have been impacted by the COVID-19 pandemic, with Vietnam able to capture the attention of suppliers and buyers of materials globally. VN-Index finishes lower as …

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