HCMC aims to add 6,000MW offshore wind farm to national power plan

By Tri Duc
Thu, June 15, 2023 | 5:49 pm GMT+7

Ho Chi Minh City’s Department of Industry and Trade has proposed adding the 6,000 MW Can Gio offshore wind power project to the National Power Development Plan for 2021-2030, with a vision to 2050 (PDP VIII).

Under the department's proposal to the municipal People's Committee, the 325,123-hectare project has an estimated investment of VND313.37 trillion ($13.31 billion), including site clearance.

It is set to cover eight hectares of land in Hiep Phuoc Industrial Park, Nha Be district, and connect to the national 500kV power grid system via the Da Phuoc electricity station.

The proposed investor is a joint venture between Vietnam’s Asia Petroleum Energy Corporation (Asiapetro) and Japanese firms Tokyo Gas Company Limited and Shizen Energy Group.

The project’s capacity is scheduled to reach 2,000 MW in the first phase from 2031-2035, a further 1,000 MW in the second phase in 2035 for hydrogen production, 2,000 MW in the third phase for 2036-2040 for electricity generation, and 1,000 MW in the fourth phase for hydrogen production. The annual energy output could reach 12.3 million MWh from 2031-2035, and 24.5 million MWh in 2036-2040.

A corner of Can Gio district, Ho Chi Minh City. Photo courtesy of VnEconomy magazine.

A corner of Can Gio district, Ho Chi Minh City. Photo courtesy of VnEconomy magazine.

Can Gio district authorities have backed the project. However, state utility Vietnam Electricity's (EVN) HCMC unit (EVN HCMC) has called for more consultations related to defense-security and forest protection. The municipal Department of Planning and Investment has also suggested more research into the impacts on the mangrove forests.

HCMC’s electricity consumption grew 11.03% year-on-year to 27.09 billion kWh in 2022 as the city’s economic growth rose by 9%, according to EVN HCMC.

PDP VIII, is expected to open up new opportunities for offshore wind power development. By 2030, the country will maximize the technical potential of offshore wind power, at about 600,000 MW. Offshore wind power serving domestic demand will reach about 6,000 MW by 2030, accounting for 4% of the country's total power generation capacity. The figure is expected to increase to 70,000-91,500 MW by 2050, or 14-16% of the total.

However, the PDP VIII does not include provisions for offshore wind power projects.

Can Gio is the only coastal district in HCMC. The city has proposed the construction of a $6 billion international container port in Can Gio, which would have a capacity three times higher than the city's Cat Lai port, now the country's largest.

The port project, with 7.2 kilometers of wharf, is set to receive ships of up to 250,000 DWT (equivalent to 24,000 TEUs,) and feeder ships of 10,000 to 65,000 DWT. The proposed site covers about 570 hectares. The port’s design capacity is 10-15 million TEUs, of which about 80% will be used for international transshipment goods, and the remainder for imports and exports.

Comments (0)
  • Read More
State-owned housing developer HUD has new chairman

State-owned housing developer HUD has new chairman

Dau Minh Thanh, chief of the Ministry of Construction (MoC) Office, has been appointed chairman of the ministry’s Housing and Urban Development Corporation (HUD).

Companies - Sun, November 17, 2024 | 9:34 pm GMT+7

Vietnam private lender LPBank reports $394 mln profit in 10 months

Vietnam private lender LPBank reports $394 mln profit in 10 months

Hanoi-based Loc Phat Vietnam Joint Stock Commercial Bank, or LPBank, logged an after-tax profit of VND10 trillion ($394 million) in the first 10 months of this year, said its leadership at the EGM on Saturday.

Banking - Sun, November 17, 2024 | 3:30 pm GMT+7

Vietnam stock market unlikely to experience further steep declines in next sessions: experts

Vietnam stock market unlikely to experience further steep declines in next sessions: experts

The probability of continued sharp falls in the Vietnamese stock market over the next sessions is relatively low, barring unexpected geopolitical turbulences that could cause significant volatility, according experts.

Finance - Sun, November 17, 2024 | 1:30 pm GMT+7

Taiwan’s Cooler Master gets nod for $125 mln additional investment in northern Vietnam

Taiwan’s Cooler Master gets nod for $125 mln additional investment in northern Vietnam

Taiwan-headquartered Cooler Master, a global computer hardware giant, especially in cooling devices, will invest an additional $125 million in the northern province of Bac Ninh, according to a project report.

Industries - Sun, November 17, 2024 | 10:00 am GMT+7

Vingroup’s hospitality arm Vinpearl becomes public company as part of listing plan

Vingroup’s hospitality arm Vinpearl becomes public company as part of listing plan

Vinpearl JSC, a hospitality subsidiary of conglomerate Vingroup, has completed its registration as a public company, the State Securities Commission of Vietnam (SSC) said on Friday.

Companies - Sun, November 17, 2024 | 9:00 am GMT+7

Vietnam pledges to make more contributions to APEC cooperation

Vietnam pledges to make more contributions to APEC cooperation

APEC leaders adopted a joint statement and endorsed two signature initiatives proposed by host country Peru: the Lima Roadmap to Promote the Transition to Formal and Global Economy and the Ichma Statement on a New Look to Advance the Free Trade Area of the Asia-Pacific.

Politics - Sun, November 17, 2024 | 8:05 am GMT+7

Construction of $2.3 bln central Vietnam LNG power plant to restart in 2026

Construction of $2.3 bln central Vietnam LNG power plant to restart in 2026

Construction of the 1,500-MW Hai Lang Power Center project in Quang Tri province will restart on January 1, 2026, the project investor has informed local authorities.

Energy - Sun, November 17, 2024 | 8:00 am GMT+7

PM arrives in Brazil, beginning trip to attend G20 Summit

PM arrives in Brazil, beginning trip to attend G20 Summit

Prime Minister Pham Minh Chinh, his spouse and a high-ranking delegation of Vietnam arrived in Rio de Janeiro, Brazil on November 16 afternoon (local time), beginning their three-day visit to attend the G20 Summit and have bilateral meetings.

Politics - Sun, November 17, 2024 | 7:30 am GMT+7

Vietnam-China partnership to enable export of Kim Long brand cars

Vietnam-China partnership to enable export of Kim Long brand cars

Vietnam’s Kim Long Motor and Futa Group have struck a strategic cooperation agreement with China’s Dongfem Dana that will enable the production and export of cars under the Kim Long brand, executives said Friday.

Companies - Sat, November 16, 2024 | 7:13 pm GMT+7

Northern Vietnam province attracts $124 mln investment from Taiwan firm

Northern Vietnam province attracts $124 mln investment from Taiwan firm

Taiwan-based Nien Made Enterprise Co., Ltd. will invest $124.1 million to make furniture accessories at Phu Ha Industrial Park in the northern province of Phu Tho.

Industries - Sat, November 16, 2024 | 7:01 pm GMT+7

Vietnam’s first LNG-fired power plants to enter commercial operation in Jun-Sept 2025

Vietnam’s first LNG-fired power plants to enter commercial operation in Jun-Sept 2025

Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants, will begin commercial operations in June and September 2025, respectively, says project investor PV Power.

Energy - Sat, November 16, 2024 | 3:20 pm GMT+7

Vinhomes spends $276 mln on buying back 162 mln shares, more than half to go

Vinhomes spends $276 mln on buying back 162 mln shares, more than half to go

Vinhomes, the largest housing developer in Vietnam, has spent around VND7 trillion ($275.7 million) on implementing its record buyback plan since kick-starting it on October 23.

Finance - Sat, November 16, 2024 | 1:21 pm GMT+7

Indonesia secures funding for green power infrastructure at COP29

Indonesia secures funding for green power infrastructure at COP29

Indonesia has attracted EUR1.2 billion ($1.26 billion) worth of green funding for the electricity sector from Germany’s Kreditanstalt für Wiederaufbau (KfW) at the 29th UN Climate Change Conference of the Parties (COP29) in Baku, Azerbaijan.

Southeast Asia - Sat, November 16, 2024 | 10:10 am GMT+7

Hanoi-based fledgling firm spends $12.3 mln on buying 17.2 mln shares of lender VIB

Hanoi-based fledgling firm spends $12.3 mln on buying 17.2 mln shares of lender VIB

Hanoi-based Quang Kim Development and Investment JSC acquired 17.2 million shares of Vietnam International Commercial Joint Stock Bank (HoSE: VIB) on Monday.

Banking - Sat, November 16, 2024 | 9:47 am GMT+7

Vietnam can utilize Trump’s policies to enhance position in global supply chains: experts

Vietnam can utilize Trump’s policies to enhance position in global supply chains: experts

Vietnam can take the advantage of protectionist economic policies by Donald Trump, the 47th president of the U.S., to strengthen its position in global supply chains, attract foreign investment, and drive sustainable economic growth, write Dr. Tran Ngoc Mai and Prof. Dr. Doan Ngoc Thang, lecturers at the Banking Academy of Vietnam.

Economy - Sat, November 16, 2024 | 9:30 am GMT+7

Former provincial Party chiefs receive warnings for Thuan An Group-related violations

Former provincial Party chiefs receive warnings for Thuan An Group-related violations

The Politburo, Vietnam’s highest decision-making body, has issued warnings to Nguyen Xuan Ky, former Party chief of Quang Ninh province, and Bui Van Cuong, former Party chief of Dak Lak province, for violations related to Thuan An Group.

Politics - Sat, November 16, 2024 | 9:24 am GMT+7