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Chinese investor eyes $10mn stake in wind power project in north-central Vietnam

Chinese investor eyes $10mn stake in wind power project in north-central Vietnam

Sunday, May 19, 2024, 14:47 GMT+7
Chinese investor eyes $10mn stake in wind power project in north-central Vietnam
An investor from China is seeking to buy a 61.3-percent stake in the Huong Linh 3 wind farm project in Quang Tri Province, north-central Vietnam. Photo: Quoc Nam / Tuoi Tre

An investor from China is seeking to buy a VND255 billion (US$10 million) stake in the Huong Linh 3 wind farm project in Quang Tri Province, north-central Vietnam.

A source told Tuoi Tre (Youth) newspaper on Saturday that authorities in the province are consulting several relevant ministries about a Chinese-invested firm’s proposal to buy stakes in the farm, located in Huong Hoa District.

Huong Linh Fresh Energy Development JSC, with its shareholders being Chinese, wants to acquire a 61.3-percent stake in Huong Linh 3 Wind Power JSC, which owns the project.

The stake is equivalent to VND255 billion.

The Huong Linh 3 wind farm project was designed to have a capacity of 30 MW and carried a price tag of VND1.118 trillion ($43.9 million).

Its wind turbines were erected in the mountainous areas of Huong Hoa District near the borderline between Vietnam and Laos.

The owners of six wind power projects in the province had previously asked local authorities for approval to sell their stakes to foreign investors.

Among them, five wind farms, including Gelex 1, 2, 3 and Huong Phung 2 and 3, were eligible for stake transfer.

The Amaccao Quang Tri 1 wind farm project, under the ownership of Khe Sanh Wind Power Joint Stock Company, has been evaluated and deemed ineligible for transfer.

Quang Tri Province is seeing 31 wind farm projects placed on a list of national wind power projects for energy development. They can generate a combined capacity of 1,177.2 MW.

Until now, 20 of the projects have been put into commercial operation with a total capacity of 742.2 MW.

One wind farm has been fully constructed, while the remaining 10 projects are either in the process of receiving investment certificates or undergoing construction.

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Tieu Bac - Quoc Nam / Tuoi Tre News

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