To Hoai Dan, general director of Cong Ly Co., on Monday reported to the municipal government that wind velocity in Can Gio is seven meters per second, appropriate to develop wind generators in order to create more renewable energy sources for the city. The company plans to invest VND10 trillion, or roughly US$500 million, to build the wind power project with the capacity of 200 megawatts within 3-4 years.

If allowed to kick off the project, Cong Ly will install 125 wind turbines along a 20km section of Can Thanh beach. The wind turbines will be provided by the U.S.-based General Electric (GE).

Dan said his company is deploying another wind power project along the 62-kilomoter coastline of Bac Lieu Province with the total capacity of 300 megawatts, using the US$200 million financed by the U.S. Export-Import Bank (Ex-Im Bank). The first phase of the project is expected to be commissioned this April 30.

The budget for the wind power project in Can Gio will also be provided by Ex-Im Bank with the lending term of 22 years, said Dan.

“When starting operation, Can Gio wind power plant will enhance electricity supply to Can Gio, accelerate development of renewable energy in HCMC, as well as reduce the greenhouse emission of 326 million kilograms of carbon dioxide every year. The generated power will be connected to the 110-kilowatt An Nghia-Can Gio line to join the national grid,” he said.

Given the regulated wind power selling price of 7.8 U.S. cents per kWh, it will take 12 years for the company to recoup investment, said Dan.

HCMC Vice Chairman Le Manh Ha requested Cong Ly Co. to further study the project’s impact on the ecosystem, Can Gio protection forest, as well as the relationship between the wind power project and the sea encroaching project that the municipal authority has approved for Saigontouirst Holding Company to develop in Can Thanh beach.

Ha assigned the city’s department of industry and trade to assist the project owner to perform relevant procedures.

Phan Minh Tan, director of the HCMC department of science and technology, stressed that Cong Ly should carry out the environmental impact assessments more thoroughly and it must be passed by the Ministry of Natural Resources and Environment before submitting to the HCMC government for approval.