Wind energy in Vietnam: Malaysian developer invests $800m in wind power

Malaysian Timar Wind Solar Energy will invest US$800 million in developing the wind power industry of central Ninh Thuan Province, according to an agreement signed on Monday.

Under the memorandum of understanding (MoU), the company will construct a wind farm and power plant using up-to-date Maglev or vertical axis turbines by late 2012 to satisfy local demand.

According to Nguyen Van Nhat, deputy chief of the Provincial People’s Committee Secretariat, the project will help light major streets as well as provide sufficient electricity for industrial sectors and services.

Nguyen Duc Thanh, chairman of the provincial People’s Committee, said that Ninh Thuan was a windy area well suited to the development of such a form of energy generation.

"With a capacity of 1,000MW, each group of Maglevs will have a capacity 20 per cent higher than traditional turbines capable of supplying electricity to 750,000 households at an estimated cost of $52 million, reducing pollution by eliminating the dependency on fossil fuelled power plants," he said.

Thanh added that such advanced technology would help save around 50 per cent in operating costs.

He said the province would support the plan, creating favourable conditions for its successful development.