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JICA finances onshore wind power project in Ninh Thuan

VGP - The Japan International Cooperation Agency (JICA) has recently signed a credit contract to provide up to US$25 million for an onshore wind power generation project with a total capacity of 88 MW in the central province of Ninh Thuan.

December 22, 2022 11:08 AM GMT+7
JICA finances onshore wind power project in Ninh Thuan - Ảnh 1.

The project, which is co-financed by the JICA, the Asian Development Bank (ADB) and other financial organizations, is expected to reduce 215,000 tons of CO2 every year.

This project is JICA's second finance for a wind power generation project in Viet Nam. 

Last year, the JICA financed US$25 million for the other onshore wind power generation project in Quang Tri Province, which is regarded as a model for the private sector to pour more investment in renewable energy projects in the future. 

According to the Ministry of Industry and Trade of Viet Nam, electricity demand in the country is expected to increase by 9.1 percent per year from 2020-2030, and demand for electricity is expected to be strong.

The Vietnamese government has also set a target of reducing greenhouse gas emissions by 9 percent in 2030 compared to the base-case scenario without climate change measures and has adopted the introduction of renewable energy as a specific measure.

In order to increase the supply of electricity and combat climate change at the same time, the government has set a target of using renewable energy sources for about 15-20 percent of the 125-130 GW of power generation capacity in its power development plan for 2030 of which 6000 MW will be supplied by wind power projects./.