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Last updated: Wednesday, September 19, 2018

 

The Blue Circle Looking to Continue Investing in Vietnam as Main Market

Posted: Monday, March 19, 2018


The Blue Circle is the largest developer of wind power projects in Southeast Asia with presence and partners in Thailand, Cambodia, Indonesia, the Philippines and Vietnam. Mr Olivier Duguet, President and CEO of The Blue Circle spoke highly of the investment environment of Vietnam in general and of Ninh Thuan province in particular. “We are looking to continue investing in Vietnam as our main market”, said Mr Olivier Duguet in an interview with Vietnam Business Forum. Quoc Hung reports.
Foreign investors are often afraid of the current contract of electricity sales in Vietnam, why are you not afraid of that?
The Blue Circle is a group specialising in renewable energy investment in South East Asian countries, currently we are investing in Vietnam, Thailand, Cambodia, Indonesia and the Philippines. Particularly in Vietnam, we will invest about 500 MW of wind and solar from now until 2020.
To achieve that goal, we have a team of experienced professionals and a financial partner system ready to join us in the projects we are interested in. Our company members has also developed many projects in Europe.
 
One of the reasons why the current wind power projects in Vietnam is slow is because the purchase price of EVN (7.8 uscent / kwh). The venture between TSV and The Blue Circle do not seem to be afraid of that and what do you suggest to the Government of Vietnam for the electricity price?
The main problem in wind development in Vietnam is lack of long-term debt financing. The second major issue is the FIT level limits the development of wind power to the best wind sites in Vietnam. That reason why TSV/TBC Joint Venture selected Dam Nai in Ninh Thuan as the first project. If FIT has higher price tomorrow, many Vietnamese banks will certainly provide long-term project financing for a large number of wind power projects.
 
TSV and The Blue Circle are the first to invest in wind power in Ninh Thuan, what is your opinion on the environment investment here?
We recognise that the Ninh Thuan Provincial Government has been very supportive of the development of TSV and The Blue Circle and especially the Dam Nai Wind Power Plant Project. The investment environment here is very good for foreign investors, and with TSV’s partners, we are very keen to promote investment in Ninh Thuan.
 
Could you share more about your development plan for renewable energy projects in Vietnam and Southeast Asia?
The Blue Circle is the largest developer of wind power projects in Southeast Asia with presence and partners in Thailand, Cambodia, Indonesia, the Philippines and Vietnam with over 1,000 MW. We are looking to continue investing in Vietnam as our main market, but will also be part of the wind power development in the rest of the region. Southeast Asia is the fastest growing economy on the planet and needs clean energy sources such as renewable energy.
 
Thank you very much!








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