Phu Cuong Group seals Vestas Soc Trang deal

The two firms agreed an MoU for a 170MW Project

The MoU brings wind energy to the forefront as a sustainable energy solution for Vietnam, which will help address the country’s fast-rising energy demand.

According to Chris Beaufait, president of Vestas Asia Pacific & China, Vestas was an early mover in Vietnam’s wind power sector.

“Vestas is honoured to be chosen as Phu Cuong’s preferred technology partner and to have the opportunity to contribute to this project as a best practice example in Vietnam. With our global expertise in providing technical support at each phase of the wind development cycle, especially in facilitating low-cost financing options, I believe Vestas can help our customers to shape their competitive edge in the Vietnamese market,” said Beaufait.

Nguyen Viet Cuong, president of Phu Cuong Group, said Phu Cuong was implementing a wind energy development plan with total of 800MW in Vietnam, beginning with the 170MW project.

“We were looking for a first-class technology provider who has a strong commitment to our project and can improve accessibility to financing due to its leading reputation, while serving as a trusted technology partner for the long run. I’m confident that Vestas is just the partner we were looking for,” Cuong said.

Counsellor Bo Mønsted from the Danish Embassy highlighted the Danish story of transitioning from a society dependent on imported fossil-fuel to a completely energy independent economy with an increasing amount of renewables in the energy mix.

“Denmark has for more than 30 years managed to create economic growth without increasing energy consumption, while at the same time reducing CO2 emissions. Wind energy provides more than 33 per cent of Denmark’s electricity consumption today, which is the highest level of wind power integration in the world. We are happy to present Vestas who has the know-how and financial solutions that can help Vietnam fulfil its goal for a greener future” said Bo Mønsted.