More Than 88,000 Billion VND Invested in Renewable Energy in Ninh Thuan

Ninh Thuan province of Vietnam is an attractive destination of foreign investors who want to invest in Vietnam energy industry.

As of June 2020, Ninh Thuan province has 34 solar power projects, 13 wind power projects that have been granted investment policy decisions, with a total capital of over 88,782 billion VND.

According to Department of Planning and Investment of Ninh Thuan province, as of June 2020, there have been 34 solar power projects/2,376.85MW and 13 wind power projects/678.95MW that have been granted investment policy decisions, with a total capital of over 88,782 billion VND, has connected to the national grid 25 projects with a total capacity of 1,556.55 MW.

Currently, some large-scale projects are being accelerated to complete in 2020, such as the Trung Nam – Thuan Nam Solar Power Plant project (450 MW) combining 220/500 kV transformer station and 500 kV, 220 kV transmission line in Phuoc Minh commune (Thuan Nam district), with a total investment of 12,000 billion VND. The completion of this project will release the capacity of renewable energy plants in Ninh Thuan and Binh Thuan areas, adding more than 1 billion kWh of electricity per year to the national electricity system.

In order to create a breakthrough, to develop quickly and sustainably, with the permission of the Prime Minister, Ninh Thuan province is the first province in the country to hire the Monitor Group of the US to formulate the provincial socio-economic development master plan of Ninh Thuan province in the period of 2011 – 2020 and vision to 2030. At the same time, hired the British Arup Group to formulate a master plan for Phan Rang -Thap Cham city development and coastal planning of the province.

According to the provincial socio-economic development master plan already approved by the Prime Minister. The province’s economic development orientation in the coming time is to build Ninh Thuan into a high quality tourist center and clean energy center of the country. In particular, priority should be given to the development of six key groups of industries, including: Energy, Tourism, Agriculture, Forestry and Fisheries, Industry, Construction and Real Estate Business, Education and Training.

Regarding energy development, Ninh Thuat province has achieved great results. The province has taken the initiative in developing the approval of the provincial Electricity Development Plan for the 2016 – 2025 period, with a vision to 2035; Ninh Thuan solar power development plan for the period of 2016 – 2020, vision to 2030 with the scale of 10,476 MW.

Especially in 2018, the province proposed and was issued a Resolution No. 115/NQ-CP by the Government on specific mechanisms and policies to support Ninh Thuan province. This is a policy of great importance to the socio-economic development of the province in the period to 2023 and the following years, with many new policy mechanisms, focusing on breakthrough industries of the province, especially the policy of building Ninh Thuan to become the center of renewable energy of the whole country.

This policy allows Ninh Thuan to enjoy the preferential electricity price mechanism of 9.35 Uscent/Kwh with a capacity of 2,000 MW until the end of 2020; developing Bac Ai accumulating hydroelectricity (capacity of 1,200 MW); Ca Na electrification center (LNG) (scale of 1,500 MW) …

Thanks to the large investment capital poured into renewable energy projects, Ninh Thuan’s GRDP in the first 6 months of 2020 reach 8,967 billion VND, increase by 8.46% over the same period; State budget revenue reached 1,770 billion VND; total investment capital of the whole society is estimated at 18,450 billion VND…