Vietnam borrows $1B for Mekong wind power development

Vietnam Development Bank has been approved Deputy Prime Minister Vu Van Ninh to sign a credit commitment letter to borrow $1 billion for wind power development in the Mekong Delta region in 2011-2015 period.

The loan will be financed by the Export-Import Bank of the United States.

Some coastal provinces in the Mekong Delta region such as Bac Lieu, Soc Trang and Kien Giang have potential for wind power development.

Till February 2011, Vietnam had 21 wind power projects studied to conduct in central provinces of Binh Thuan, Ninh Thuan, Binh Dinh and Lam Dong with designed capacity of over 2,000 MW.

In the master electricity plan VII, the total capacity of electricity sources using renewable energy will be 5.6% by 2020 and 9.4% by 2030.