Page 14 - AsiaElec Week 22 2021

AsiaElec NEWS IN BRIEF AsiaElec

output by 1.3bn kilowatthours in 2021 because
it does not have the transmission capacity
needed. Although grid congestion has some
short-term solutions, such as battery storage,
the long-term solution is to expand Vietnam’s
transmission grid.
One major grid development underway is
a 461-mile transmission line extension with
three 500-kilovolt transmission lines. These
transmission lines will connect nine cities
and provinces across central and southern
Vietnam.
US ENERGY INFORMATION ADMINISTRATION

WIND
IFC lends $57m to two wind

projects in Vietnam

The International Finance Corporation (IFC)
is providing a $57mn loan to the developer of
two onshore wind projects in Vietnam.
The financing package includes financing
mobilised by the multi-investor Managed Co-
Lending Portfolio Programme (MCPP) which
is managed by IFC’s innovative syndications KEPCO launches new green implement the RE100, or Renewable Energy
platform, said a statement. 100%, initiative, which centers on utilising
The two plants are Phu Lac 2 in Binh PPA service only environmentally friendly sources for all
Thuan province and Loi Hai 2 in Ninh Thuan production.
province with a combined capacity of 54.2 Korea Electric Power Corp. (KEPCO), South
megawatts (MW). Once operational later Korea’s state-run utility, said W would will
this year, the two plants will generate 170m launch a new renewable energy transaction
kilowatt hours of clean energy each year. service through its energy marketplace HYDRO
The company behind the plants is Thuan EN:TER.
Binh Wind Power JSC (TBW), a subsidiary The new renewable energy transaction China’s new super
of Refrigeration Electrical Engineering service consists of the ‘My Power Plant
Corporation (REE), which also developed the Service’ and the ‘Green Premium Bidding hydropower dam almost
24MW Phu Lac 1 wind plant in Binh Thuan Service.’
province. The My Power Plant Service is designed ready
Infrastructure expert John Yeap of Pinsent to serve power generators with less than
Masons said: “The Vietnamese renewable 1-megawatt capacity and non-utility China’s new extra-large hydropower station
energy agenda is one of the most ambitious generation clients who sign power purchase on the Jinsha River, an upper section of the
in the southeast Asian region. With its long agreements (PPAs) with KEPCO. Yangtze, witnessed the final concrete poured
coastline, it has significant wind resources The service enables such clients to check on its dam casting on Monday, May 31, taking
that it could commercialise. The wind power PPA volume and payment, while keeping the project one step closer to going equipped
purchase agreement (PPA) has presented risk them updated with the latest transaction this summer.
issues for foreign debt and equity providers, prices of new renewable energy and the With a total inaugurated capacity of 16mn
but this loan from the IFC demonstrates current state of the nationwide new renewable kilowatts, the Baihetan hydropower station
financing structures can be put in place that energy power system. in southwest China is ready with 16 hydro-
enable such foreign financing to be utilised.” The Green Premium Bidding Service generating units, each having a capacity of
According to Vietnam’s national power is designed to allow KEPCO customers to 1mn kilowatts, the main in the world.
development plan VIII (PDPVIII), it plans to participate in the green premium system The dam is an ultra-high double-curvature
double wind energy production by 2030 and through bidding. arch dam with a maximum height of 289
triple renewable energy production between Green premium refers to consumers meters and an arc length of 709 meters.
2030 and 2045. paying KEPCO a price higher than the The concrete pouring of the dam began
PINSENT MASONS normal electric rates to help the adoption of in April 2017, with a total casting volume of
green value. 8.03mn cubic metres for its main body.
KEPCO provides such customers with
MARKETS confirmation documents on the use of
renewable energy.
The documents can be used as a tool to

P14 www. NEWSBASE .com Week 22 02•June•2021