Following the Phu Cuong Soc Trang project in Soc Trang province, Mainstream Renewable Power has signed a joint development agreement with Advance Information Technologies Corporation (AIT), a local specialist in providing EPC services to power projects and a strong local developer of renewable energy projects, to co-develop a 500MW offshore wind power project in Ben Tre province.
|Mainstream signed with a local partner to implement the project in Ben Tre (Illustration) |
The wind farm received the requisite site survey licence earlier this year. Since then, it has completed a feasibility study and then submitted a Power Development Plan (PDP) application to the Ministry of Industry and Trade to add the project to the Vietnamese government’s forthcoming national PDP8 for the period 2021-2030 with vision to 2045.
The wind farm is expected to reach financial close and start construction in 2023-2024, and reach commercial operation in 2025-2026, when it will provide much-needed power to support the economic growth in Vietnam.
Mainstream has been actively developing projects in Vietnam since establishing its Hanoi and Ho Chi Minh City offices in 2017.
Most notably, Mainstream has partnered with PCG to deliver the 1,400MW Phu Cuong Soc Trang project in Soc Trang province. Once complete, the project will be the largest wind farm in Southeast Asia, powering over 995,000 homes and avoiding around 1.22 million tonnes of carbon dioxide equivalent each year.
Vietnam is capable of generating 10GW of electricity by offshore wind farms by 2030, suggested studies carried out by the Danish Energy Agency and the World Bank. Vietnam possesses a long shore and potential for 160GW of wind power energy within a radius of 5-100 km from shore.