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Agreement Signed to Develop the First 102 MW Wind Farm in Khanh Hoa Province

Nexif Ratch Energy and Khanh Hoa Province have signed a memorandum of understanding to develop a 102 MW wind power project, marking a major step forward in diversifying the region's energy mix in Vietnam.

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Khanh Hoa Province in Vietnam is set to host its first-ever wind farm through a strategic partnership between Nexif Ratch Energy and the provincial Department of Planning and Investment. The memorandum of understanding (MoU) signed by both parties marks a significant milestone for the 102 MW Nexif Energy Khanh Hoa 1 project.

Valued at USD 155 million, this project will generate approximately 312,500 MWh of clean energy annually, contributing to reduced greenhouse gas emissions and enhancing the region’s energy mix. It is also part of the province’s ambition to become a major economic hub by 2030, leveraging sustainable infrastructure development.

Gradual and Structured Development

Since obtaining a survey license in May 2021, Nexif Ratch Energy has completed several key steps to ensure the project’s feasibility. Two on-site met masts were installed in January 2022 and March 2023, allowing for a certified energy yield assessment. This rigorous preparation ensures a smooth transition to the next development phase.

In addition to its environmental goals, the project is expected to create over 100 jobs and generate significant tax revenue during the construction and operational phases. These economic benefits will bolster local development while supporting Vietnam’s efforts to promote renewable energy.

A Vision Aligned with National Goals

Matthew Bartley, Chairman of the Development Committee at Nexif Ratch Energy, praised this partnership as a key step in Khanh Hoa’s energy transformation. According to him, the project aligns with the national strategy to ensure energy security while fostering sustainable economic growth.

Meanwhile, Cyril Dissescou, CEO of Nexif Ratch Energy, highlighted the company’s commitment to supporting local authorities in the research, investment, and permitting processes needed to advance this project.

Promising Regulatory Prospects

With a strong presence in Vietnam, Nexif Ratch Energy is well-positioned to benefit from the updated regulatory framework that the Vietnamese government plans to introduce soon. This framework will provide greater clarity for independent developers, facilitating the launch of new renewable energy projects.

Currently, the company operates two hydropower projects in Vietnam and is developing a significant portfolio of wind and solar projects. This regional expertise strengthens its ability to meet the growing demands of Vietnam’s rapidly expanding energy market.

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