The Ho Tram Project Company (HTP) has inked a Memorandum of Understanding with a Vietnam-based natural gas distributor in a move towards cleaner, greener power.
According to HTP, the developer of the Ho Tram Strip, a total investment of US$63 million (NPV) would be deployed towards a power station to be built within the existing Central Plant Building on Ho Tram Strip, which would be done in collaboration with PetroVietnam Low Pressure Gas Distribution Joint Stock Company (PVGasD).
“With our signing today, we become the first tourism developer in Vietnam to fully switch to self-generated, greener energy sources. This pioneering move sees us invest in a natural-gas fueled plant that will emit less than half of the carbon dioxide and significantly less harmful particulates and Carbon Monoxide than coal powered systems,” said HTP executive chairman Michael Kelly.
According to Kelly, the 15 year agreement will provide cleaner-energy for 1100 room The Grand and Beach Club resorts, supply all of the requirements for The Bluffs golf course including its Gallery Villas, and in future can be expanded to include the newly announced Kahuna condotel, and future facilities including the second integrated resort, additional resorts and entertainment amenities including the forthcoming amphitheater and waterpark.
“We are extremely excited to be partnering with the Ho Tram Strip on a development that will power this project for decades to come… This is the first project of its kind to be built at a tourism development such as this, and represents a pioneering move into the way in which enterprises are adopting greener sources of power,” said Mr Do Pham Hong Minh, PVGasD deputy director.
Build out is expected to commence later this year, and the plant is projected to fire-up for the first time in late 2018.