Vietnam has seen a tremendous growth in renewable energy over the last three years fuelled by attractive feed-in-tariff regimes. In 2017 the country had less than 200 MW of utility-scale wind and solar installed. Three years later the cumulative installed utility-scale capacity has reached over 10 GW, with an additional 3 GW of wind-capacity expected to reach COD in 2021. The rapid growth is expected to continue throughout the next decade. Growth ambitions are currently being finalized by the government and it is expected that the country will target to add between 30 to 40 GW of wind and solar by 2030. Scatec is eager to play a leading role in Vietnam’s renewable energy industry.
Dam Nai Wind is located in the “renewable energy capital” of Vietnam in the Ninh Thuan province in the southern part of the country. The wind farm was constructed in two phases – Phase I started operations in October 2017 (7.9 MW) and Phase II in December 2018 (31.5 MW). The asset consists of 15 Siemens wind turbine generators, each with a rated capacity of 2.625 MW. The site encompasses an area of approximately 133,000m2, at 10 metres above sea level, with flat topology and is surrounded by and interspersed with rice fields. Expected annual revenues of USD 10.5 million under the 20 year Feed In Tariff scheme for wind in Vietnam. The wind farm is financed by non recourse debt from the Bank for Investment and Development of Vietnam (BIDV).