Vietnam: US firm eyes investment in renewable energy

Vietnam: US firm eyes investment in renewable energy

United States' ACO Investment Group has expressed interest in implementing
renewable energy projects in Viet Nam's southern province of Binh Duong.

This was revealed by chairman and CEO of the group Hari Achuthan at a
working session with local authorities on February 22.

He noted that the company was devising projects for two renewable energy
plants in the country, including the first solar power factory in Phuoc Dinh
Commune (Thuan Nam District) and Vinh Hai Commune (Ninh Hai District) in the
south central province of Ninh Thuan.

The construction of the plant, which is designed with capacity of 100 MW and
total investment of US$150 million, will begin in the third quarter of 2017.
The plant will be put into operation in July 2018.

The US group hopes to cooperate with Binh Duong to build a solar lighting
system instead of the current high-pressure lamps.

Tran Thanh Liem, vice chairman of the provincial People's Committee,
welcomed the American firm's plans to invest in renewable energy projects.

"With over 10,000ha of industrial land, Binh Duong is a suitable location to
build a solar power plant," he said.

Along with Ha Noi, HCM City and Dong Nai, Binh Duong has high consumption of
over one billion kWh of electricity per year. The power demand for
production is always high, estimated at 12 per cent per annum, he noted.

Binh Duong is also one of the five leading cities and provinces nationwide
in drawing foreign direct investment (FDI), with over 2,800 FDI projects
worth $25.5 billion.

In 2016, the locality attracted more than $2 billion in FDI, including over
$1.3 billion from 240 newly-licensed projects and $675 million through an
increase in capital from 123 existing projects.

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Link to Original Article:
http://vietnamnews.vn/economy/351729/us-firm-eyes-investment-in-renewable-en
ergy.html#lYcEZsLLFTMmDj6f.97

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com