The Swiss Energy Transition Fund acquired the Dam Nai wind farm in Ninh Thuan province

Dam Nai wind power farm currently has a total capacity of more than 39 MW including 15 wind turbines, with an average annual electricity output of 120 million kWh...

Dam Nai wind power farm in Ninh Thuan province.

Switzerland's SUSI Asia Energy Transition Fund (SAETF) has just announced that it has acquired the Dam Nai wind power farm (with a capacity of 39 MW) in Ninh Thuan province from the Scatec ASA renewable energy company head office in Norway. 

In particular, the Dam Nai wind farm in Tan Hai and Phuong Hai communes (Ninh Hai district) and Bac Son, Bac Phong communes (Thuan Bac district) of Ninh Thuan province, managed by Dam Nai Wind Power Joint Stock Company with a total capital of 1.523 billion Vietnamese dong. The project has a total capacity of 39 MW, including 15 wind turbines, with an average annual electricity output of 120 million kWh.

According to the agreement, Scatec ASA will receive an advance payment of $27 million (approximately 663 billion Vietnamese dong) for 100% of the shares in the project. The transaction is expected to be completed in the first half of 2025. Additionally, Scatec ASA will also receive an additional payment of up to $13 million after meeting certain conditions agreed upon by both parties before May 2026.

After the completion of the purchase, the Dam Nai wind farm will become a core asset of the Sustainable Asia Renewable Assets (SARA) platform of SAETF. Alongside the affiliated operating company, this wind farm will serve as an anchor for the development, construction, and operation of other renewable energy projects in Vietnam and neighboring regions.

It is known that this is also the first operational project of SAETF's SARA platform, and the project will enhance the platform's scale significantly and provide access to the increasingly developing renewable energy market in Vietnam.

Ninh Thuan province is one of the regions with potential and advantages in the development of renewable energy (wind power, solar power). The wind speed ranges from 6.4 to 9.6 meters per second (averaging 7.5 m/s), higher than the national average, with consistent winds blowing for 10 months, providing favorable conditions to ensure stability for wind turbines generating electricity. Currently, Ninh Thuan province has 8 projects, with 7 projects already officially in the commercial operation phase at full capacity.

Source: vneconomy.vn