Kosy Group signed a power purchase agreement with Vietnam Electricity
On January 19, 2021, at the headquarters of the Electric Power Trading Company, the signing ceremony of the power purchase and sale agreement for the Kosy Bac Lieu Wind Power Plant project – phase 1 between Kosy Bac Lieu Wind Power Joint Stock Company took place. (a member of Kosy Group) and Electric Power Trading Company, as authorized by Vietnam Electricity. This is an important milestone marking a new step of the Kosy Bac Lieu wind power project in early 2021.
Attending the signing ceremony were Mr. Nguyen Viet Cuong – Chairman of the Board of Directors/General Director of Kosy Group cum Chairman of Kosy Bac Lieu Wind Power Joint Stock Company, Mr. Nguyen Danh Son – Director of Electric Power Trading Company and representatives of the Board of Management of the two sides.
Accordingly, with the signed Power Purchase Agreement, for inland wind power projects commercially operated before November 1, 2021, the electricity purchase price at the power delivery point is 8.5 cents/kWh. equivalent to 1,928 VND/kWh, excluding value added tax. Electricity purchase price will be adjusted according to exchange rate fluctuations at the time of payment.
Dr. Nguyen Viet Cuong – Chairman of the Board of Directors of Kosy Bac Lieu Wind Power JSC signed a power purchase agreement with Mr. Nguyen Danh Son – Director of the Electric Electric Power Trading Company.
Kosy Bac Lieu Wind Power Plant Project Phase 1 has a capacity of 40 MW, total investment of nearly 1,600 billion VND, located in Hoa Binh district, Bac Lieu province, developed by Kosy Bac Lieu Wind Power Joint Stock Company. The project was officially started in October 2020 and will generate electricity and connect to the national grid before September 30, 2021.
Kosy Bac Lieu Wind Power Plant uses 09 wind turbines with a capacity of 4.5 MW each. The self-use capacity of the power plant is about 200 kW, the annual electricity production is about 115 million kWh/year and the voltage generated to the grid is 220 kV.
Overview of signing ceremony of power purchase and sale agreement between Kosy Bac Lieu Wind Power Joint Stock Company and Electric Power Trading Company.
Sharing about the current progress of the project, Mr. Luong Hong Phong, Deputy General Director of Kosy Group in charge of Wind and Solar Power said: “Currently, the Kosy Bac Lieu wind power project has completed about 40% of the work volume. Site clearance work has been completed, construction items are being constructed on schedule.
The first batch of foundation bolt equipment will arrive at the end of January, the foundation work will be completed before April 2021 and the first turbine cluster will arrive in May. The project will start commercial operation of the first three turbines on July 30, when the power lines of the substation will be energized at the same time. The next cluster of 3 turbines will turn on on August 30, and the last cluster of 3 turbines will turn on on September 30. With the spirit and drastic direction of the Group’s Board of Directors as well as the support of the authorities, the project is committed to energizing on schedule, operating safely and economically.”
Mr. Luong Hong Phong, Deputy General Director of Kosy Group in charge of Wind Power and Solar Power delivered a speech.
Previously, in December 2020, Kosy Bac Lieu Wind Power Joint Stock Company signed a contract to supply a full set of 9 turbines worth nearly 700 billion VND with Goldwind International Renewable Company and a general construction contractor contract worth nearly 850 billion dong. These are all contracts with important partners and contractors, confirming the quality and reputation of the project.
Established in 2008, after nearly 13 years of development, Kosy Group is now known for its two spearhead fields of real estate and renewable energy. Kosy’s real estate projects stretch from the North to the South and are increasingly being expanded to increase the land bank for the Group’s long-term development strategy. In the field of renewable energy, along with the Kosy Bac Lieu wind power project, the 34 MW Nam Pac 1 & 2 hydropower project in Lai Chau will connect to the national grid before April 30, 2021. Pa Vay Su – Lai Chau hydropower project (37 MW) and Muong Tung – Dien Bien hydropower project (35 MW) will be started in early 2021; Kosy Bac Lieu wind power project – phase 2 (50 MW), phase 3 (100 MW) and Kosy Binh Thuan solar power project (200 MW) are also being implemented towards the 2025 goal, the Group Kosy will have 500 MW of hydropower, wind power, and solar power to generate electricity and connect to the national grid.