During a working session with the leaders of the People’s Committee of Quang Tri province, the investor group composed of Minh Quang Investment and Technology Trading Joint Stock Company (Minh Quang Technology Company) and China Huadian Corporation (China Huadian Group) proposed a green energy plant investment project with a total investment capital of approximately 2,392.0 million USD.
The project group includes the Green Hydro Power Plant project in the Dong Gio Linh industrial cluster, with an expected capacity of about 60,000 tons per year, generating hundreds of millions of USD in revenue for the group. In addition to this project, Huadian also wants to invest in a combined solar power plant (800 MW capacity) and wind power plant (1200 MW capacity) in the province.
When these projects are constructed and put into operation, hundreds of jobs will be created for the labor force in the province; the project’s revenue will also contribute significantly to the state budget. In addition, having additional energy supply will partially support the shortage of electricity for production and business activities, especially during the summer months when hydropower plants face difficulties due to the impacts of El Nino in recent years.
Huadian Corporation is a company specializing in the production and supply of thermal power, hydropower, wind power, nuclear power, and other energy products headquartered in Beijing, China, with over 20 years of history. It is one of the top 5 largest power generation companies in China owned by the government and supervised by the State Council. The company has contributed to the development of the country’s economy in recent years.
Huadian owns and holds shares in 31 coal mines with a production capacity of about 51 million tons in 2018. In recent years, in addition to developing traditional power generation methods, Huadian has been shifting towards developing green energy. The total installed capacity of the group by the end of 2018 reached 148 GW, with nearly 40% of that being green energy.
By 2020, the group’s total installed capacity will be raised to 166 GW – with 43% of the electricity sources being evaluated as environmentally friendly. Huadian is increasingly focusing on building plants related to wind power and solar power, with the goal of increasing the proportion of green energy to 50% by the end of 2025.
A plant of Huadian Corporation (Photo: UDF-Space)
In addition to the core business, the corporation also participates in fields related to financial investment (with 6 subsidiaries operating in this field), technology, and engineering – serving the diversification and consolidation of the company’s vital areas. Huadian’s assets are mainly distributed in 32 provinces in China. In recent years, the group has tended to invest more overseas; they own other assets in Russia, Indonesia, Cambodia… In total, the group owns 7 listed companies domestically and internationally, and is also listed in the Global Fortune 500 list for 7 consecutive years.
With increasing focus on overseas investment, Huadian has chosen Vietnam as the next destination for the group’s green energy strategy. Through China Huadian Engineering Corporation (CHEC), the group has invested in 2 projects: Duyen Hai 2 Thermal Power Plant and Dak Lak Wind Power Plant (with a capacity of about 400 MW). The group continues to express its desire to invest in other green energy projects in Vietnam in the future, through meetings with leaders of the Vietnam Electricity Group (EVN).
Duyen Hai 2 Thermal Power Plant (Photo: PECC2)
