German investor eyes $400M green energy plants in Vietnam

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Terra Wood Vietnam has started surveying locations in the central province of Quang Ngai.

Terra Wood Vietnam, a German-owned energy company based in Ho Chi Minh City, is reportedly planning to develop two power plants in Vietnam.

Officials of the energy company told Vietnamese news outlets that they have started surveying locations in the central province of Quang Ngai for a wind-to-power as well as a solar power plant.

A Terra Wood board member told VietnamNet: "The plants will have a total capacity of 300MW, or 150MW each. They will cost around $400 million in total, that is, $200 million each. We need nearly 300 hectares for a project."

Tran Ngoc Cang, chairman of the People's Committee of Quang Ngai, has allowed the company to study the locations and build investment plans for the project. Cang also proposed some locations for the Terra Wood project, including Mo Duc and Duc Pho districts, and Ly Son Island.