MOIT VIETNAM | Mitsubishi Corporation (Japan) plans to establish a wind power facility in Laos in collaboration with Thai renewable energy companies, then sell commercial electricity to Vietnam.
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Mitsubishi Corporation (Japan) plans to establish a wind power facility in Laos in collaboration with Thai renewable energy companies, then sell commercial electricity to Vietnam.
According to Nikkei Asia, the plant will be one of the largest onshore wind power facilities in Southeast Asia, with a capacity of 600 megawatts (MW). The plant's investment expenditures are projected to be in the hundreds of millions of dollars, with a Mitsubishi subsidiary taking a 20 percent part in a joint venture with two Thai renewable energy producers.
Construction on the plant is planned to begin by the end of this year, with completion in 2024. Under the terms of the contract, a power grid will be created to supply electricity to a Vietnamese state-owned company for a duration of 25 years.
Along with economic expansion, Vietnam's electricity demand is steadily rising. In 2016, Vietnam and Laos agreed to share electricity in order to fulfill some of the increased demand. About 40% of Vietnam's energy resources are currently coal and hydroelectricity. The generating capacity of hydroelectric plants, on the other hand, drops dramatically during the dry season, resulting in severe power shortages.
As a result, Vietnam is putting in place renewable energy projects, such as wind and solar power. However, only a few sites in Vietnam's interior are appropriate for wind energy development. In the meanwhile, Laos is an ideal location for wind energy development.
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