Japanese renewable power producer Renova Inc (TYO:9519) announced on Friday it is taking part in the construction of 144 MW of onshore wind parks in Vietnam.
The Tokyo-based company has entered into a 40/60 partnership with local power producer Power Construction Joint Stock Company No. 1, also know as PCC1, to implement three onshore wind projects with an individual capacity of 48 MW.
Located in Quang Tri province, these facilities -- Lien Lap, Phong Huy and Phong Nguyen -- are scheduled to commence construction this month and be up and running by the end of October 2021. These plants will sell their output at a feed-in tariff (FiT) of USD 0.085 (EUR 0.078) per kWh.
This move, Renova's first international renewable energy project, is in line with the company's plan to become Asia’s renewable energy leader, it said.
In Japan, Renova has more than 600 MW in operational and under construction photovoltaic (PV) and biomass power plants, and approximately 700 MW of large-scale offshore wind projects in development, it noted.
