Terra Wood is proposing
a $400 mln wind and solar energy project.
German green energy firm
Terra Wood has revealed plans to invest $400 million in a wind and solar
electricity project in Vietnam, contributing to an active week of renewable energy deals
made by foreign investors.
The energy company has
submitted an investment plan to build the project in Vietnam’s south central
province of Quang Ngai, and on-site inspections started on August 3, according
to the local People's Committee website.
Terra Wood's is the
third renewable energy deal proposed to Vietnam in a week following a
hydropower project run by the World Bank’s International Finance Corporation
and Armstrong S.E. Clean Energy Fund and The Blue Circle’s wind energy project in
Ninh Thuan Province.
Chairman of Quang Ngai
People's Committee Tran Ngoc Cang welcomed the project and said the province
will help facilitate the German investor's project. Cang also gave permission
for Terra Wood to conduct research and surveys for the wind and solar
electricity plants in Quang Ngai.The German-owned energy company will develop
two electricity power plants, one wind and one solar, which will cover a total
of 600 hectares with an output of 300 megawatts and total investment of $400
million.
Quang Ngai has immense
potential for the development of wind and solar electricity, especially in the
districts of Mo Duc and Duc Pho and the famous Ly Son Island. A number of
foreign investors are also looking at electricity and renewable energy
exploitation in Quang Ngai.
Beside Quang Ngai,
foreign-invested solar and wind energy projects have
been registered across the country, but only a few have been put into operation
due to low electricity prices.
Terra Wood is an
international group of consultancy, engineering and project development
companies dedicated to green energy projects. Within the network, Terra Wood
Vietnam is the country representative of Germany's ProfEC GmbH, which
specializes in turnkey wind, biomass, biogas, wind, solar and Clean Development
Mechanism (CDM) projects.
Reference Resource: Bao
Vnexpress
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