Tra Vinh Wind Power No.1 Joint Stock Company Assisting Renewable Energy Development in Vietnam

12:37:04 PM | 4/26/2022

Korea - Tra Vinh Wind Power Plant was officially put into commercial operation as scheduled on October 21, 2021 with required progress and quality met and fixed preferential feed-in tariff granted. This project was invested by Tra Vinh Wind Power No.1 Joint Stock Company (TWPC), thus demonstrating its capacity and long-term commitment to support and develop sustainable renewable energy in Vietnam.

Addressing challenges, affirming prestige

TWPC, formerly known as Tra Vinh Wind Power No.1 Co., Ltd, was established in 2015. In 2019, jointly invested by ST International and Climate Investor One (CIO), TWPC was officially transformed into Tra Vinh Wind Power No.1 Joint Stock Company. The company was assigned by the Tra Vinh Provincial People’s Committee to invest in Korea - Tra Vinh Wind Power Plant, covering 230 ha in Con Trung village, Truong Long Hoa commune, Duyen Hai town.

Local authorities, Korean Consulate, leaders of Tra Vinh Wind Power No.1 JSC  and construction contractors at the factory inauguration ceremony

The plant has 12 wind turbines with a total installed capacity of 48MW and a 20.3-km 110kV power transmission line fed into EVN Duyen-Tra substation. This is one of the major FDI projects in Tra Vinh province, started on April 24, 2019 by Climate Investor One and ST International - South Korea. The project, costing up to VND3,000 billion ( US$123 million), was built by general contactorVestas Company of Denmark and leading contractors of Vietnam like Khang Duc and PCC1.

Korea - Tra Vinh Wind Power Plant is one of the first wind power projects in Tra Vinh province to finish on schedule to enjoy the fixed feed-in tariff (FIT) policy. In the course of project implementation, TWPC and its units faced numerous difficulties and challenges such as site clearance, weather and pandemic. The Covid-19 pandemic caused enormous pressures, disrupted the transport chain and restricted mobility that led to serious shortages of human resources.

To overcome these difficulties, TWPC whose management was very experienced in wind power development and construction worked out effective solutions to ensure the required quality and progress. Besides, the investor and contractors adopted optimal options to continue construction during the social distancing period.

Mr. Tran Dinh Luat, from TWPC, said, Korea - Tra Vinh Wind Power Plant is the first complete nearshore wind power project of the Company and Tra Vinh province as well. Completing as scheduled in October 2021 during the epidemic season was a great success, thus affirming the capacity, position and prestige of TWPC in the wind power industry in particular and renewable energy in general.

Korea-Tra Vinh wind power plant is the first completed nearshore wind power project in Tra Vinh province

Annually, Korea - Tra Vinh Wind Power Plant, once put into operation, will generate more than 155 million KWh of electricity and pay some VND20 billion to the State Budget. This is an important first step in the use and development of wind energy in Vietnam, increasing onsite power generation, and raising voltage and safety of voltage supply for industrial production centers and urban residences in the province.

“In addition, the plant area has a beautiful landscape and will become a new tourist destination in Duyen Hai town, hence helping local tourism restructuring and development” he stressed.

Commitment to sustainable development

TWPC pays special attention to sustainability factors in construction and development. Committed to complying with the highest international social and environmental standards, Korea - Tra Vinh Wind Power Plant is built on two basic principles: "Do no harm" and "Do well". These principles are applied across governance and business processes through the Environmental and Social Management System (ESMS) and the Community Development Program.

In addition, positive influences of the TWPC project are well responded to the United Nations Sustainable Development Goals (SDGs): Zero carbon emission, poverty eradication, peace, prosperity and planet protection. Especially, the Korea - Tra Vinh Wind Power Plant will reduce greenhouse gas emissions by 154,000 tons a year, equivalent to planting 19 million trees on the ground.

From 2020 to now, TWPC has regularly participated in local social security activities. Specifically, it installed five solar street lights with a total length of more than 4km in Truong Long Hoa commune (Duyen Hai town); presented 871 gifts worth VND306 million to disadvantaged people of Duyen Hai town and Duyen Hai district; donated 16 bicycles to poor students; donated VND120 million to the local Covid-19 vaccine fund. In addition, in 2022, TWPC will invest in a clean water plant project to supply water to 1,157 households, and provide water purifiers and water purification stations for over 900 households in Duyen Hai town, Duyen Hai district, and Cau Ngang district.

Vietnam's wind power market is developing with much room for growth and playing a pivotal role in the future energy system. This will engage renewable energy businesses, including FDI firms like TWPC.

In the coming time, TWPC will further boost its investment in renewable energy to help protect the environment, fight against climate change, and support and build a sustainable and green energy source. Accordingly, the company has asked for permission to start the second phase of the Korean - Tra Vinh Wind Power Plant and seek more new renewable energy projects in Tra Vinh as well as in Vietnam in order to materialize its strategy and commitment toward these goals.

Mr. John Benedict Braza Victorino, Chairman of the Board of Directors of TWPC, said, “Tra Vinh province is potential and strong in renewable energy and marine economy. We believe that its investment climate has been increasingly improved in a more friendly and open direction. In the coming time, TWPC hopes to receive more attention and support from local authorities to launch more large, effective and pervasive projects to assist socioeconomic development of Tra Vinh province and Vietnam as a whole”.

By Vietnam Business Forum