Many countries expect that by 2010, wind energy will be “processed” to ensure the supply of 10-20% of national electricity demand. Vietnam, located near the sea with a diverse terrain benefiting from abundant wind sources, wonders whether it can build “wind power” plants to generate cheap energy without polluting the environment.
Since 1998, Clean Energy Joint Stock Company (CEJSC), headquartered in Hanoi, has established the first comprehensive wind survey station on Phuong Mai Peninsula (Binh Dinh). In August 2000, CEJSC completed the project to build the first wind power plant named Phuong Mai, located in the northern part of the peninsula, adjacent to Thi Nai Lagoon and the East Sea, alongside a mountain with an elevation of 609 m in the two communes of Cat Hung and Cat Tien, Phu Cat District.
The plant has an initial capacity of 15,000 kW, opting to use 20 Jacobs 48/750 kW turbines produced in Germany to generate 49 million kWh/year. The total investment for the plant is estimated at approximately 13,755,000 USD, with a lifespan of 20 years, expected to yield a net profit of 18,691,000 USD. The project management team believes the project is highly feasible regarding economic, technical, environmental, and tourism landscape aspects, with potential future expansions for higher capacity plants.
Based on the research results from CEJSC, in 2002, several scientists and businesses in Binh Dinh inherited the project, forming Phuong Mai Wind Power Joint Stock Company, with the mission to build the first industrial-scale wind power plant connected to the national grid, marking the beginning of exploiting Binh Dinh’s abundant wind energy resources as well as those of the country.
The People’s Committee of Binh Dinh Province supported and directed various departments to assist the Company in promoting the implementation of this entirely new project. Mr. Nguyen Huu Phung, General Director of Phuong Mai Wind Power Joint Stock Company, stated that this plant requires very few and compact equipment, with infrastructure investment being minimal compared to thermal and hydroelectric plants, and the construction time on-site is short (about 1 year).
On October 14, 2002, the company began signing contracts with the provincial technical center for land surveying, followed by the completion of the acceptance of the current site measurement. Subsequently, the unit gradually completed contract works for bomb and mine detection, technical design for the access road to the plant, and selecting the construction unit. In April 2005, the unit transferred the first compensation payment for land clearance, preparing to transfer the second installment and land use fees.
Thereafter, Phuong Mai Peninsula became part of the Nhon Hoi Economic Zone (EZ). On July 17, 2005, the People’s Committee of Binh Dinh Province held a ceremony to announce the Prime Minister’s Decision on the establishment of Nhon Hoi EZ and organized an investment conference here. At the conference, Phuong Mai Wind Power Joint Stock Company officially registered to continue investing in the construction of Phuong Mai I Wind Power Plant with a capacity of 15 MW.
However, on July 19 (two days after the conference), the company received Decision No. 1829/QĐ-CTUBND signed on July 8, 2005, regarding the withdrawal of land allocated for the construction of Phuong Mai Wind Power Plant due to exceeding the land allocation period without investment in construction.
Phuong Mai Company subsequently issued an explanatory document acknowledging deficiencies in the slow implementation of the project and requested permission to continue the project. On August 11, 2005, during a meeting with the provincial People’s Committee, the company’s Board of Directors reported that member units had committed to contribute sufficient 30% matching capital to sign contracts for equipment purchases. The suppliers and the foreign bank providing guarantees had issued letters of commitment regarding delayed repayment loans for equipment purchases at an interest rate of 3.5% per year, with a repayment period of 10 years starting from the fourth year. The unit also signed a CO2 emission trading contract with Asia Carbon International B.V. If the provincial People’s Committee allows the project to continue, the company will commence construction in the fourth quarter of 2005, aiming to put the plant into operation in the first and second quarters of 2007.
On September 10, 2005, the Thang Long Branch of the Investment and Development Bank responded affirmatively, agreeing to provide investment capital for the wind power project if Phuong Mai Company met the bank’s conditions. Accordingly, the investment project in the build-operate-own (BOO) format must have a 30% matching capital, guaranteed returns from electricity sales within no more than 10 years, and be approved by competent authorities as per regulations.
It is known that in the Phuong Mai Peninsula area within Nhon Hoi EZ, three more enterprises have recently registered to invest in building three additional wind power plants, each project requiring an area of 100-200 hectares, with a capacity of about 50 MW and an investment capital of 700-800 billion VND. The race to invest in the favorable land for Phuong Mai wind power will contribute to enhancing the effectiveness of Nhon Hoi EZ and the Central Region’s economic development. It is hoped that Phuong Mai’s project will soon receive approval from the relevant authorities!
According to VNECONOMY
