Blue Circle gets nod for 40-MW wind project in Vietnam

Singapore-based renewables developer The Blue Circle said on Monday it has obtained an investment certificate from the Vietnamese authorities for its 40-MW Dam Nai wind project in South Vietnam.

The company and its Vietnamese partner TSV are now able to sign a long-term lease and a power purchase agreement (PPA) with national power utility EVN. There are still some permits to be secured, as well as the needed financing.

The 40-MW wind park is only the first phase of the project and will require an investment of about USD 60 million (EUR 54.6m). Construction work is expected to start next year. The project will be implemented on a 933-ha (2,305-acre) site in Ninh Thuan province, where the company has identified potential for 70 MW to 100 MW of wind capacity.

“With the grid connection on site, as well as very good wind speeds, the Dam Nai project has all the attributes to succeed even in a low Feed-In-Tariff environment,” said Olivier Duguet, CEO of The Blue Circle.

Vietnam has set a new target of 4,000 MW for wind power capacity by 2025. There is currently less than 120 MW installed in the country.

(USD 1.0 = EUR 0.910)

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