Modern Energy Management (MEM) has been appointed the owner’s representative for Climate Investor One (CIO) and ST International (STI) on the Tra Vinh Wind Power (TWPC) 48MW intertidal wind farm in Vietnam.
Climate Investor One is a blended finance facility delivering renewable energy infrastructure projects in emerging markets, and has been developing this project since 2017.
ST International is a South Korean energy company that is expanding its renewable energy project footprint.
TWPC is their first investment in Vietnam.
MEM’s scope began with overall project management for the development of the intertidal wind farm, followed by technical and design support, and managing the tender for EPC services to include technical support during the contract negotiations.
It will now close out the project construction and initiate commercial operations on behalf of the owners.
CIO head of Asia Nathan Schmidt said: “Our relationship with Modern Energy Management on this project was very productive.
“We initially chose MEM for their wind project development expertise in the Vietnamese wind market, especially as it related to intertidal projects, and are excited to continue that relationship by appointing them as our owner’s representative for TWPC’s commencement of commercial operations.”
MEM’s project director Lars Lund added: “Intertidal wind projects like TWPC are technically complex and present unique challenges and risks.
“MEM is one of the few firms in the market with the experience to design and build for construction in these conditions.
“Modern Energy is a leader with our expertise in the Vietnam wind market, especially intertidal wind projects.
“TWPC is expected to begin commercial operations prior to 1 November 2021, making it one of the first intertidal wind projects to achieve commercial operations under the current FiT scheme in Vietnam.”
Power demands are expected to double between 2020 and 2030 in Vietnam.
While the current Feed-in-Tariff (FiT) set to gradually decrease after 1 November 2021, Vietnam is targeting to have an installed capacity of 6GW of wind renewable energy by 2030.
MEM supports investors of land based and intertidal wind projects in Vietnam with a current estimated capacity of over 1.5GW.