Singapore-Thailand JV Nexif Ratch to invest $155 mln in wind power in Vietnam
Nexif Ratch Energy, a regional renewable energy developer, will invest $155 million in a 102MW wind power project in Vietnam’s central coastal province of Khanh Hoa.
Nexif Ratch Energy, 51% owned by Singapore-based Nexif Energy and 49% by Thailand-based RATCH Group, has signed an MoU with Khanh Hoa authorities for the move, according to a recent corporate release.
Representatives of Nexif Ratch Energy and Khanh Hoa Department of Planning and Investment sign an MoU in Khanh Hoa province, central Vietnam, November 26, 2024. Photo courtesy of Nexif Ratch Energy.
The project, named Nexif Energy Khanh Hoa 1 Wind Power, is expected to generate 312,500 MWh of clean energy annually, helping local businesses and citizens, including 100 jobs.
Nexif Ratch Energy obtained a survey license in May 2021 and installed two on-site met masts in January 2022 and March 2023. It is set to become the first wind power project in Khanh Hoa. Along with nine solar projects in operation, the wind power project can significantly improve the province’s energy mix from renewable resources.
The project indicates Khanh Hoa's ambition to become a leading economic hub in Vietnam by 2030 and Nexif Ratch Energy’s commitment to expanding its renewable projects in Vietnam, the firm said in the statement.
In Vietnam, the company owns and operates two hydropower projects and has various onshore wind and solar power projects.
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