Trung Nam Wind Power Joint Stock Company and Hitachi SE sign a strategic cooperation agreement in HCM City. (Photo: courtesy of Trung Nam Group)Hanoi (VNS/VNA) - Hitachi SE's renewable energy business expanded itsmarket to Vietnam by signing a strategic cooperation agreement with Trung NamWind Power Joint Stock Company of Trung Nam Group (TNG) in Ho Chi Minh City onMay 14.
The event also marked a new step for TNG in attracting foreign investors to thefirm's renewable energy projects.
Currently, Trung Nam Wind Power Joint Stock Company is operating a 151.95 MWwind farm in Ninh Thuan province worth 4 trillion VND (172.4 million USD), withan estimated output of 432,000,000 kWh per year.
After the deal, Hitachi SE will own a 35.1 percent stake in the wind farm.
According to the representatives, Hitachi highly valued the quality of the windfarm as well as its long-term and effective development in the future.
The cooperation will give TNG additional funds from partners and increase itscapital to continue implementing renewable energy projects.
Besides the wind farm, TNG also runs two solar power projects in Ninh Thuan andTra Vinh provinces with a total capacity of more than 360MW. Last year, thegroup became the first private investor in Vietnam to build and put a 500kVsubstation and 220/500kV transmission line combined with the 450 MW Trung Nam ThuanNam Solar Power Plant into operation.
The group is working on other projects in Dak Lak, Gia Lai, Tra Vinh and NinhThuan, aiming to connect 10GW to the national grid by 2027.
National energy demand grows at a rate of 9-10 percent annually, so Vietnam isimplementing many policies to encourage the development of renewable energyprojects, not only to meet rising energy demand but also to reduce greenhousegas emissions.
Vietnam has set a target of producing 11.8GW of electricity from wind power by2030.
Hitachi SE, along with its member companies, operates 30 wind power companieswith a total installed capacity of 248MW in Japan./.
VNA
