Last week, EGAT International Co Ltd (EGATi) and B.Grimm Power Co had meetings with leaders of Binh Dinh Province to look into investment conditions for wind power projects in Nhon Hoi Economic Zone, according to the Binh Dinh Investment Promotion Center.
Pakorn Snguansuppayakorn, deputy general director of EGATi, said studies showed that coastal areas have much potential for wind power development. The province has zoned areas for wind power projects in the economic zone and this is a favorable condition for investors in the field, including EGATi.
According to the provincial leaders, the Nhon Hoi Economic Zone is holding great potential for wind power and the province will support investors to implement their projects. EGATi and B.Grimm Power Co will conduct surveys and feasibility studies for wind power investments in the province.
EGATi was established by the Thailand Power Corporation to carry out energy investment and trading projects in Asian countries, especially Laos, Vietnam, and Myanmar. In Vietnam, EGATi has a representative office in Hanoi and is investing in Quang Tri 1 thermal power plant with a capacity of 1,200MW under the BOT form in the central province of Quang Tri.
Meanwhile, B.Grimm Power Co invested in a power plant in Amata Industrial Park to supply electricity for the park in the southern province of Dong Nai.
Earlier, Thailand Banpu Public Co signed a memorandum of understanding (MOU) with Thua Thien-Hue Province on building and operating a thermal power plant with an initial capacity of around 1,200MW. If the project is of high economic efficiency, its second phase will be implemented with a capacity of 2,000MW, according to the province’s portal.
Under the MOU, the central province will support Banpu to conduct a survey for the project within 24 months.
Earlier this month, Thailand Outgrow Energy Consult Co came to Thua Thien-Hue Province to seek to cooperate with the province in the power sector. The company wants to build a thermal power plant using municipal solid waste.
Outgrow Energy Consult has invested in power plants with capacity of around 100MW or less using renewable resources like wind, solar power, geothermal energy, and solid waste.
Thai companies have poured more capital into the retail, consumer goods and processing sectors in Vietnam in recent times to capitalize on the nation’s steady growth and large population as well as its avorable location to enter Laos, Cambodia and southern China.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, Thai investors had pledged a combined US$7.88 billion in 428 projects in Vietnam by the end of last month. Thailand is now Vietnam’s 11th biggest foreign investor.
The average investment of a Thai-invested project is US$18.4 million, well ahove US$14 million registered for a foreign project in Vietnam in general. Thai firms have invested in 200 processing projects worth nearly US$7 billion, accounting for 88% of their total investment capital in this market, followed by agriculture, forestry and fisheries with 31 projects worth US$235 million, retail and construction.
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