Vietnam emerges as new destination for wind power projects

With huge potential for wind power development, Vietnam will be an attractive investment destination if it has a stable and long-term legal framework in place, said Director for Asia at the Global Wind Energy Council (GWEC) Liming Qiao.

A report delivered at a workshop in Hanoi on Tuesday noted that by the end of last year, the total capacity of wind power turbines installed in Vietnam was about 228 MW, a modest figure compared to that of other markets around the world. The Vietnamese Government aims to raise this figure to 800 MW by the end of 2020, 2 GW by 2025 and 6 GW by 2030.

Experts at the workshop said Southeast Asia, including Vietnam, boasts great potential as wind speeds in the region average 6.5 � 7.5 metres per second, and wind turbine towers with the height of 120 meters can operate in this condition. They noted the feed-in tariff (FIT) scheme � the selling prices of electricity from renewable energy sources sold to the grid or used on the spot � is also very good, not to mention other incentives like exemption of equipment, import tariffs and corporate income taxes. These are among the advantages for Vietnam to attract more investment to this field, according to the experts.

Source: VOV5