Vietnamese group Intracom plans $3 bln offshore wind power farm in Quang Tri

By An Le
Mon, March 21, 2022 | 4:20 pm GMT+7

Intracom Group, a multi-sector join stock company, is proposing to develop a $3 billion offshore wind power project in Quang Tri province.

The 1,000MW Intracom-Quang Tri project will cover a survey area of 22,000 ha, including a 350ha sea surface area for turbine pillar layout and a 5ha land area. Each turbine will generate 6.25 MW.

Once operational, the wind farm in central Vietnam will produce 4 million MWh a year. Of the VND72 trillion ($3.1 billion) in total investment, about $962 million is the owner’s equity.

The Wind Power Plant No.7, located in the Mekong Delta province of Soc Trang, is invested by Soc Trang Energy JSC and Xuan Cau Company Limited. Photo courtesy of the firms.

The Wind Power Plant No.7, located in the Mekong Delta province of Soc Trang, is invested by Soc Trang Energy JSC and Xuan Cau Company Limited. Photo courtesy of the firms.

Major components of the project include wind turbine generators, an offshore wind transmission system, transformer stations and transmission lines.

The project’s survey area is 15 km from Con Co Island Marine Reserve and 8 km from My Thuy port, which will not overlap with the sea areas of “national security”, aquaculture areas of locals and My Thuy port zoning areas.

Intracom Group proposed two plans on national grid connections. Under the first, the project will connect with the 500 kV Vung Ang to Da Nang transmission line (from Ha Tinh province to Da Nang city).

The second plan will see the project link with the 500 kV Quang Trach to Doc Soi transmission line (from Quang Binh province to Quang Ngai province).

However, the former is prioritised as it would secure the release of the entire project capacity, increasing the direct power supply to the Vung Ang Economic Zone in Ha Tinh, the company stated.

Intracom Group is coordinating with provincial agencies to supplement application documents and draft a proposal that Quang Tri will submit to the government to have the project added to the country’s draft power plan VIII for the period 2021-2045.

The group’s main business lines include construction, hydropower, real estate and health care services. Among its major projects are Nam Pung, Cam Thuy 1, Ta Loi 2 and Ta Loi 3 hydropower plants, Phuong Dong Hospital in Hanoi and Intracom Riverside residential complex in the capital’s Dong Anh district.

Quang Tri currently has 19 wind power projects producing 671 MW, two gas-fueled power projects (1,840 MW in total), three solar power projects (187 MW) and 11 hydropower projects (more than 167 MW).

At a conference to promote energy development in Quang Tri, Vo Van Hung, Chairman of the provincial People's Committee, said: “With the projects planned and proposed, Quang Tri strives to become an energy center of central Vietnam, reaching an electricity generation capacity of about 4,000 MW by 2025, and 10,000 MW by 2030”.

Comments (0)
  • Read More
The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

A seminar themed “Removing legal bottlenecks for infrastructure and property investment” will be organized by The Investor in Hanoi on Tuesday.

Companies - Mon, November 18, 2024 | 7:52 am GMT+7

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