Singapore, China firms seek stakes in central Vietnam solar, wind power projects

Quang Tri is collecting feedback on proposals by several firms from Singapore, Taiwan and mainland China for buying solar and wind power projects in the central province.

Taiwan’s Shinfox Energy Co. Ltd. and Singapore’s Camellia Energy Pte. Ltd. are looking to spend VND122.5 billion ($5.02 million) each on acquiring a 35% stake, or 70% in total, in Gio Thanh Energy JSC, investor of the 50 MWp Gio Thanh 1 solar power plant.

They are also looking to spend similar sums on acquiring similar stakes in SECO JSC, investor of the 50 MWp Gio Thanh 2 solar power plant.

Hong Kong-based CNNC Overseas International Investment Limited and Beijing-based Zhongyuan Limited are looking to buy a total stake of 50% in Khe Sanh Wind JSC, investor of Amaccao Quang Tri 1 wind power plant.

The 49.2-MW power plant, with a total investment of VND2,172 billion ($89.05 million), received in-principle approval in December 2020, and became operational in 2021.

Singapore’s Sembcorp has proposed the purchase 100% stakes in Dien Gio Huong Phung Limited Company and Quang Tri Gelex Energy Co., Ltd. for VND710 billion ($29.11 million) and VND1,269 billion ($52.03 million), respectively.

The two Vietnamese firms own several wind power plants in the province, including the 20 MW Huong Phung 2, the 29.3 MW Huong Phung 3, the 29.4 MW Gelex 1, the 29.4 MW Gelex 2, and the 29.4-MW Gelex 3.

Quang Tri’s Department of Planning and Investment has said that since the above power projects have sensitive locations like border areas and nearshore areas, it has asked for feedback from relevant authorities including the Ministry of Public Security and the Ministry of National Defense.