Vietnam borrows $1b from US-based bank to develop wind power in Mekong Delta region

Frontiersinsight

Deputy Prime Minister Vu Van Ninh has recently approved Vietnam Development Bank (VDB) 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 (EXIM Bank).
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.
Recently, the prime minister issued a decision on preferential mechanism for wind power development, including incentives on investment capital, taxes and fees, land infrastructure and electricity price support for grid connected wind power projects.
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.
                                                                                       
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