Accordingly, on May 30, 2024, Huong Linh 4 Wind Power Joint Stock Company sent a document with a request to adjust the investment project "Huong Linh 4 Wind Power Plant" in Huong Hoa district, Quang Tri province.

This project was approved by the People's Committee of Quang Tri province in the first investment policy decision dated December 10, 2019; the first policy adjustment was on September 1, 2020, the second on April 7, 2021 and the third on May 16, 2023.

In this adjustment proposal, Huong Linh 4 Wind Power Joint Stock Company proposed to adjust the project implementation schedule. In which, from March 2020 to September 2022: Construction of infrastructure, purchase and sale contracts, import of equipment; Construction of power grid, construction of turbine foundations; Transportation and installation of equipment.

From October 2022 to December 2023, continue to carry out project-related procedures. From January 2024 to December 2024, testing, calibration, connection and power generation.

According to Huong Linh 4 Wind Power Joint Stock Company, the proposed adjustment of the investment policy is due to the difficulty that investors face in waiting for instructions on negotiating electricity prices. Specifically, the electricity selling price mechanism as well as the negotiation of unified prices still have many shortcomings and difficulties, and it is expected that the time to complete the negotiation will be prolonged.

In addition, due to the many shortcomings in the negotiated electricity price mechanism, the specific electricity price has not been available. Therefore, commercial banks do not have a basis for calculating and assessing all possible project risks. Therefore, it is difficult for businesses to access loans to implement projects.

After the Department of Planning and Investment requested comments on the investor's proposal, after consideration, the Department of Industry and Trade of Quang Tri said that, according to related reports, the Huong Linh 4 Wind Power Plant project has completed construction and installation work and is completing related legal procedures for acceptance and energization.

“Based on the above reality, it is necessary to review and adjust the investment policy of the Huong Linh 4 Wind Power Plant project as proposed by Huong Linh 4 Wind Power Joint Stock Company in the document requesting adjustment of the investment project dated May 27, 2024 attached to the above document of the Department of Planning and Investment to complete the relevant legal procedures before organizing acceptance, energizing, and putting the project into commercial operation”, emphasized the Department of Industry and Trade of Quang Tri.

According to the Department of Planning and Investment of Quang Tri, based on the regulations and comments of the Department of Industry and Trade, the Department of Planning and Investment believes that the investor has proposed to adjust the project completion schedule to December 2024. Thus, the total extension period compared to the regulations in the initial investment policy decision is 36 months, compared to the third investment policy adjustment decision dated May 16, 2023 of the Provincial People's Committee is 12 months.

“The reason for the request to extend the deadline by 12 months is due to objective problems in waiting for instructions on electricity price negotiations. Up to now, the investor is still waiting for instructions from the Ministry of Industry and Trade and Vietnam Electricity Group on the mechanism and power purchase contract for the transitional wind power project... Meanwhile, the investor has completed the construction and installation work, and has made an investment guarantee deposit of more than 12 billion VND in accordance with regulations. Therefore, the investor's request to extend the total progress schedule by 12 months is in accordance with the provisions of the Investment Law 2020,” affirmed the Department of Planning and Investment of Quang Tri.

In order to facilitate the investor to continue completing the remaining procedures and tasks to put the project into operation in accordance with regulations, the Department of Planning and Investment of Quang Tri has proposed that the Provincial People's Committee consider approving the adjustment of the project implementation schedule as proposed by the investor.

It is known that the Huong Linh 4 Wind Power Plant project is located in Huong Linh commune, Huong Hoa district, with a land area of ​​8 hectares; the total designed capacity is 30 MW including 9 wind turbines, each wind turbine has a capacity of 3.3 to over 3.4 MW. The project has a total initial investment capital of more than 1,537 billion VND. After that, the project's total investment was adjusted down to more than 1,118 billion VND. In the first adjustment (Decision No. 2567), the Huong Linh 4 Wind Power Plant project was adjusted to reduce the total investment capital to more than 1,118 billion VND (reduced by more than 419 billion VND).