TURNING THE WIND INTO A VALUE RESOURCES
Ninh Thuan is a land of scorching sun, wind, and sand. These are all pictures that come to mind when thinking about this region. However, a few years ago, the situation was different. This land has been reborn. Ninh Thuan's harsh sun and wind have been "conquered" by many investors, who have turned the sun and wind into an opportunity to make money, allowing this area to be highlighted on the map of renewable energy in Vietnam.
Ninh Thuan has now become the capital of solar and wind power in Vietnam and Southeast Asia. When it arrived in the Thuan Bac area, it greeted by a giant solar power field and tall wind power towers. That is Trung Nam Group's complex of solar and wind power projects; the bottom is solar power, and the top is "unique" wind power in Vietnam. The first investors set foot on this land to investigate its energy potential.
Mr. Nguyen Tam Tien, General Director of
Trung Nam Group, could not disguise his pride when referring to this solar-wind power complex. "Trung Nam devised this model. Trung Nam's style of doing things is unique in the world," Mr. Tien exclaimed. The renewable energy complex covers an area of 900 hectares, with an annual electrical output of approximately 1 billion kWh and a total capacity of over 350 MW, making it Southeast Asia's largest complex.
Trung Nam's name has skyrocketed since the day he invested in solar and wind power, becoming a celebrity in Vietnam's energy market and one of the pioneers for a long story filled with all levels of passion. Trung Nam currently possesses thousands of megawatts (MW) of this "clean electricity," with a total solar power capacity of 794MW in operation.
The full power generated by wind is 151.95MW, not including the 118 MW generated by hydroelectricity. Furthermore, Trung Nam is still building 545.8MW of wind power on the construction site day and night to be ready for commercial operation by November 1, 2021.
This quantity of capacity in the Central South is also among the highest in Southeast Asia, ranging from Ninh Thuan to the Central Highlands, Tra Vinh. Thanks to the State's incentive pricing program for wind and solar power, Trung Nam has entered this new, challenging, but intriguing industry.
Mr. Nguyen Tam Tien, General Director of Trung Nam Group, acknowledged that investing in clean energy is a difficult task. The majority of these projects are enormous in scale and necessitate the use of highly qualified personnel. It takes one year to measure the wind and another year to install the equipment before investing in a wind power plant. Trung Nam is a one-of-a-kind unit in the country that installs and constructs its projects.
Trung Nam's officials were relieved when no labor accidents occurred during 45 wind power towers. Placing equipment on wind columns hundreds of meters high in the whistling wind is usually a difficult job. "This is due to Trung Nam's use of seasoned international experts." "They do things cautiously, and if they do anything harmful, they shake their heads," Nguyen Tam Tien explained.
SIGNATURE DECISIONS IN THE ENERGY INDUSTRY
However, Trung Nam did not anticipate another "obstacle" influencing project financial plans when investing in sustainable energy. Due to transmission line overload in Ninh Thuan and Binh Thuan, several renewable power plants could not be generated entirely on the grid, affecting most investors, including Trung Nam. Not ready to "give up," Trung Nam decided to propose to the government and the Ministry of Industry and Trade that investment be permitted in a project involving a 220/500kV transformer station and transmission line, as well as a 450MW Trung Nam Thuan Nam solar power plant. The Government and People's Committee of Ninh Thuan province supported that bold decision will complete the substation and transmission line in 102 days, much to the surprise and skepticism of many people, because it is the 500kV substation and the first 500kV transmission line built by the private sector.
Trung Nam, on the other hand, completed the project after 102 days and nights. Trungnam Group completed the site clearance within the first 45 days, to complete the project in 102 days; together with more than 8,000 people from authorities, engineers, and workers, construction worked around the clock on an area of 557.09 hectares to complete the project on time.
Trung Nam hosted the inauguration ceremony for the project of a 500kV substation and 220/500kV transmission line combined with Trung Nam Thuan Nam solar power plant on October 12, 2020, which became a historic milestone for Vietnam's energy industry. 450 MW alternating current The event is significant because it is part of a large initiative to welcome the XIV Party Congress of Ninh Thuan Province from 2021 to 2025. When he thinks back on that decision, Mr. Nguyen Tam Tien still remembers the thrill. He admitted that if the project is not completed, it will be highly stressful and that not the entire project will benefit from the 9.35 cent/kWh rate. On the other hand, Trung Nam implemented the project courageously and boldly, knowing that it was a race against time.
Mr. Nguyen Tam Tien still remembers the joy he had when he made that decision. He admitted that if the project is not completed, it will be highly stressful and that not the entire project will benefit from the 9.35 cent/kWh rate. Only water will collapse if it fails. On the other hand, Trung Nam implemented the project courageously and boldly, knowing that it was a race against time.
Mr. Luu Xuan Vinh, Chairman of the Provincial People's Committee at the time, noted that although the project was undertaken in the conditions of Ninh Thuan province, it was both influenced by the Covid-19 epidemic and affected by the pandemic's impact. Despite the hard deadline, the project was formally energized, completed at the end of September 2020, and completed three months sooner under the Prime Minister's supervision.
The project's completion and operation are critical, contributing to the realization of the Government's Resolution 115/NQ-CP, turning Ninh Thuan into a national renewable energy center. In addition to making a vital contribution in releasing the capacity of renewable energy plants in Ninh Thuan and Binh Thuan areas. Moreover, improving the province's business environment in commitment to investors.
The obstacles, however, have not decreased. Trung Nam's capacity continues to be lowered, prompting the Group to file a complaint with the National Assembly, the Government, and the Ministry of Industry and Trade. Mr. Tien stated, "Trung Nam has a lot of power plants, and certain factories' capacity has been reduced." Trung Nam must accept it because he understands that the transmission line takes a long time to build. But projects like the Trung Nam Thuan Nam solar power project make us want to cry. Why are we deflated, like other investors, when we invested in creating a substation and a 500kV line to allow all of the projects in the vicinity to transmit there?
NOT TO SELL SHARES IN RENEWAL POWER PROJECTS
After completing procedures, investing, or finishing projects in Vietnam, many investors swiftly sell controlling shares to overseas investors. Even though many solar and wind power projects have been shifted erratically, Trung Nam continues to work on one project after another. This demonstrates Trung Nam's great financial capacity and enthusiasm for the renewable energy business. Until recently, Trung Nam opted to transfer 49 percent of the
204 MW Trung Nam Thuan Bac Solar Power Plant project to ACIT to focus on ongoing projects.
The Trung Nam Wind Power Joint Stock Company then signed a strategic collaboration agreement with Hitachi Sustainable Energy Company (Hitachi SE), a subsidiary of the Hitachi Group, on May 14. (Japan). Hitachi SE owns 35.1 percent of Trung Nam Wind Power Plant, according to the inked contract. TNG, which owns 64.9 percent of the company, will continue to play a critical role in the operation and development of wind generating projects. Mr. Nguyen Tam Tien explained that this lawful transfer of wealth is a method for Trung Nam to become stronger and have more resources to pursue new ventures.
