Laos to sell Vietnam its wind power with help from Mitsubishi
The facility will have power generation capacity of 600 megawatts, making it one of the largest onshore wind farms in Southeast Asia, reported Nikkei Asia. It is expected to cost hundreds of millions of dollars.
A Mitsubishi subsidiary will take a 20% stake in a joint venture to be formed with two Thai renewable-energy developers. Construction by the new company is expected to start by the end of this year with operations to begin in 2024.
A grid network will be built to send power to a Vietnamese state-run utility under a 25-year contract, said the Nikkei.
Vietnam needs additional power supply to support its economy, especially in the dry season, when the country’s hydro power generation is limited. The project is therefore expected to both help stabilise Vietnam’s power system and make its energy mix greener, Mitsubishi explained.