VietNamNet Bridge – Investment opportunities for renewable power projects in Ninh Thuan Province are widening as the local authority announced it would reject three more long-delayed projects.

The move is aimed at seeking new private investors with stronger financial capacity and expertise in terms of renewable power development.

The projects facing the chop include a solar power project of local private Minh Loc Company, the Phuoc Dan wind power project of Thuong Tin Energy Company, and the Viet Hai wind power of Vietnam Sea-Transportation and Real Estate Company.

The Ninh Thuan People’s Committee explained that the investors had failed to both implement their commitments, and complete construction procedures for the projects.

Thuong Tin Energy Company, for example, received its investment certificate for a 50-megawatt wind power project five years ago. According to the certificate, the company had to complete construction in 2012, but the company has not even started the project.

“To guarantee more efficient use of our natural resources and better investment opportunities to financially capable and experienced investors,” the provincial committee stated, “Ninh Thuan People’s Committee ordered the Department of Planning and Investment to reject the delayed projects.”

Located in the southern-central coastal region, Ninh Thuan is said to be an ideal base for wind power generation. According to a report by the Ministry of Industry and Trade (MoIT), the province boasts ideal 6.5-9 metre-per-second gusts of wind.

Last year, the MoIT approved a wind power development plan for Ninh Thuan, planning total wind power generation capacity of 90 megawatts in the province by 2015 and 220 megawatts by 2020.

Because of its huge wind power potential, many domestic and foreign investors are flocking into the province to register wind projects. So far, 12 investors have gained approval in principal to study wind power investments in Ninh Thuan, five of which have received investment certificates.

Malaysia’s Timar Wind Solar Energy Company recently received approval from the Ninh Thuan People’s Committee to study wind power potential in this province as part of initial steps to build an $800 million wind power farm in Vietnam.

The Ninh Thuan People’s Committee recently announced it had temporarily closed the door to new wind power investors, in order to focus on speeding up already approved and pending projects.

The provincial committee recently urged Belgium’s Enfinity Corp to begin deployment of a $251 million wind power project after it failed to put the project into operation as scheduled.

VIR/VNN