Latest news with #VietnamElectricity
The Star
23-05-2025
- Business
- The Star
Laos' largest regional wind farm scheduled to become operational by late 2025
VIENTIANE: Laos is on track to launch its first wind farm – and the largest in South-East Asia – by the end of this year, with all 133 turbines for the project now fully installed. The 600-MW Monsoon Wind Power Project, valued at US$930 million, spans 68,000 hectares across Dakcheung district in Xekong province and Sanxay district in Attapeu province. The project is the region's first wind energy initiative covering more than one province. Electricity generated by the project will be exported to Vietnam under a 25-year power purchase agreement with Vietnam Electricity (EVN). The power will be transmitted via a 500-kilovolt power line. The project is led by Impact Energy Asia Development Co Ltd, which signed a memorandum of understanding with the Lao government in 2011 to assess the feasibility of the venture. Work on the project officially progressed in 2022 after the signing of a concession agreement and it is now operated by Monsoon Wind Power Company Limited. ACEN, the Ayala Group's renewable energy platform, announced the completion of turbine installation on May 19. The company holds a 25 per cent economic interest in the joint venture, construction of which began in March 2023. The wind farm comprises turbines with tower heights of 110 metres and 140 metres, strategically positioned based on wind data collected over eight years, from 2015 to 2023. The Monsoon Wind Power Project is not only a landmark energy initiative for Laos but also a symbol of hope and progress. The project is committed to supporting sustainable development across all sectors, promoting tourism, and creating employment opportunities for local communities. The company regularly undertakes a wide range of social assistance activities in fields such as agriculture, education and healthcare. As a strategic initiative of the Party, the government and Xekong province, the project is designed as a clean energy solution that will play a vital role in reducing carbon emissions. With minimal environmental impact, it represents a renewable, sustainable and inexhaustible energy source. Additionally, the wind farm will contribute to national energy security and support the global mission of achieving net-zero carbon emissions by 2050. The Lao government aims to promote investment cooperation and raise public awareness about the country's climate change commitments, while simultaneously encouraging more foreign companies to invest in clean and renewable energy and other sustainable and environment-friendly projects in Laos. - Vientiane Times/ANN
United News of India
22-05-2025
- Business
- United News of India
Laos set to power up Southeast Asia's largest wind farm
Vientiane, May 22 (UNI) Laos is preparing to switch on Southeast Asia's largest wind farm by the end of the year, with all 133 turbines at the Monsoon Wind Project now fully installed, signalling a significant step in the country's renewable energy ambitions and wider economic strategy. The 600-megawatt project, valued at $930 million, is located across 68,000 hectares in the southern provinces of Sekong and Attapeu. Once operational, it will supply electricity to neighbouring Vietnam under a 25-year power purchase agreement with state utility Vietnam Electricity (EVN), transmitted via a dedicated 500-kilovolt cross-border line, reports Laotian Times. As the region's first transnational wind power scheme, the project reflects a growing trend of cross-border energy cooperation in Southeast Asia. For Laos, it also represents a diversification of its energy exports, which are currently dominated by hydropower — an industry increasingly vulnerable to seasonal variability and environmental concerns. Developed by Impact Energy Asia Development Co., Ltd., the project has been over a decade in the making. An initial memorandum of understanding was signed with the Lao government in 2011, with development formally advancing in 2022 following the concession agreement. The project is now being delivered under the Monsoon Wind Power Company Limited joint venture. Turbine installation was completed on May 19, according to ACEN, the renewables platform of the Philippines' Ayala Group, which holds a 25% economic stake in the venture. Construction began in March 2023, and the project's turbines — with tower heights of 110 and 140 metres — were positioned based on eight years of wind data gathered from 2015 to 2023. The Monsoon Wind Project is expected to play a key role in Laos's strategy to become the "battery of Southeast Asia", a long-standing national policy aimed at turning the country's natural resources and geographical position into an energy export engine. However, the heavy focus on large-scale hydropower has drawn criticism for its environmental and social impact, particularly on river ecosystems and local communities. Wind power offers a cleaner and more seasonally stable complement to Laos's hydro output. While the electricity will initially be exported, the expansion of such infrastructure could lay the groundwork for future domestic supply, particularly as demand grows and energy access becomes a greater priority. For Laos, one of the region's least developed economies, the project brings not only foreign investment but also the potential for technology transfer, employment, and longer-term regional integration. Its success may shape how the country balances energy export revenue with domestic development, and whether wind can scale up to become a more prominent part of the nation's future energy mix.
The Star
10-05-2025
- Business
- The Star
Electricity prices in Vietnam increase by 4.8 per cent amid soaring generation costs
EVN workers checking the transmission system. Vietnam Electricity (EVN) on May 9 announced that the average retail electricity price will be increased by 4.8 per cent starting from May 10. — VNA/VNS HANOI: Vietnam Electricity (EVN) on Friday (May 9) announced that the average retail electricity price will be increased by 4.8 per cent starting from Saturday, marking the fourth hike since early 2023. Accordingly, the average electricity price increases from VNĐ2,103.12 to VNĐ2,204.064 per kWh, excluding value added tax (VAT). Since early 2023, electricity prices have been increased four times, 3 per cent, 4.5 per cent and two consecutive 4.8 per cent. On the same day, the Ministry of Industry and Trade issued Decision No 1279/QD-BCT regulating retail electricity pricing for different groups of customers and distribution units. EVN said that the impact on low-income households and social policy beneficiaries is not significant. The increase is aimed at offsetting rising input costs as Việt Nam becomes increasingly dependent on high-cost power sources such as coal, liquefied natural gas and renewable energy, EVN said, adding that cost-effective hydropower is projected to make up for just 25 per cent of the national electricity output by 2025. In addition, volatile foreign exchange rates, especially rising US dollar, also drove generation costs. Commercial electricity demand is anticipated to increase by 12.2 per cent this year and the total system output expected to add 336 billion kWh, mainly from high-cost power sources such as imported coal and LNG. Under the Prime Minister's Decision No 07/2025/QD-TTg on electricity price framework, the average retail electricity prices range between VNĐ1,826.22 and VNĐ2,444.09 per kWh. There must be a minimum interval of three months between two electricity price increases. EVN is allowed to decide on increases between 2 per cent and 5 per cent. EVN must get approval of the Ministry of Industry and Trade for increases between 5 per cent and 10 per cent and the Government's for increases of 10 per cent or higher. — Vietnam News/ANN
South China Morning Post
30-03-2025
- Business
- South China Morning Post
Vietnam faces mass bankruptcies of renewable energy producers
Vietnam could experience a wave of bankruptcies of solar and wind producers if the state utility proceeds with its planned change in pricing for renewable energy, the Vietnam Chamber of Commerce and Industry said in a letter to parliament. Advertisement The application of a new power purchasing price – which would be implemented retroactively for several years – by Vietnam Electricity, or EVN, puts 173 solar and wind projects at risk of insolvency, according to the March 24 letter the chamber made public Friday. The chamber accused the state-owned monopoly of 'a serious violation of contractual principles.' The utility did not immediately respond to a request for comment. 'If EVN proceeds with the adjustment, which will cut 25 to 46 per cent revenue of these projects, most of them will become insolvent, potentially triggering mass bankruptcies,' it said. The wind and solar power companies would struggle to generate enough cash for debt repayments, potentially creating 200 trillion dong (US$7.8 billion) in bad debt in the nation's financial system, according to the letter. The power companies, which collectively have invested as much as US$15 billion in Vietnam, received loans based on projected revenue from its previously agreed-upon power price, it said. Advertisement 'This would cause significant instability in both the banking sector and the financial markets in Vietnam,' the chamber latter said.
