Modern Energy Management (MEM) has been appointed by Hero Future Energies (HFE) to provide owner’s engineer services for its 100MW wind farm project in Kon Tum province, Vietnam.
Hero Future Energies’ Oman Singh said: “This is a continuation of the support Modern Energy Management provided HFE on this Vietnam project.
“We found their technical advisory and engineering services to be extremely helpful.
“Because of our positive history with them, we knew that Modern Energy was the right partner to provide the Owner’s Engineer services for this wind project.”
Modern Energy Management’s scope of work includes wind engineering, procurement advisory, and contracting support.
MEM head of engineering and development Marc Wright said: “This is a mid-stage development project and this is the stage of development where Modern Energy adds the most value in project optimisation and risk management for both construction and operations.
“In our advisory role, this is where MEM is best able to optimize and derisk wind projects for our clients.”
Vietnam’s current Feed-In-Tariff (FIT) is scheduled to expire on 01 November 2021.
Despite the uncertainty that comes with questions around what new schemes may be enacted after the FIT expiration, investors like HFE are committed to Vietnam renewable energy growth.
MEM managing director Aaron Daniels said: “Given the development schedule of this it will not be ready in time for the current FIT, which is scheduled to sunset in November 2021.
“We are watching government communications regarding possible news related to a new FIT in Vietnam. The project will be looking towards the next program when it’s announced.”
“The expiration of the FIT puts pressure on developers to optimize their projects.
“MEM is a good fit for HFE on this scope due to our experience in optimizing project value drivers, particularly in Vietnam where we have a long and successful history.”
With power demands expected to double between 2020 and 2030, Vietnam recently raised its 2030 wind renewable energy target from 6GW to 11GW.
By the end of 2020, wind power installed capacity was only 670MW.
MEM currently supports investors in over 1.5GW of onshore and intertidal wind projects in Vietnam.