GE, Mainstream Renewable Power and the Phu Cuong Group have formalized a $2b development agreement to build an 800MW wind farm in the Soc Trang province of Vietnam.
The project, first flagged last year, is expected to be the Southeast Asian nation’s biggest wind farm. It will be built in two phases, with the first 200MW part scheduled to reach financial close next year.
Formalization of the deal occurred today at a signing ceremony in Washington attended by Vietnamese prime minister Nguyen Xuan Phuc and US commerce secretary Wilbur Ross.
“This is a significant step forward in terms of taking the first phase of this project into construction next year, and in doing so supporting Vietnam in its aim of delivering 1GW of renewable energy by 2020,” said Mainstream chief operating officer Andy Kinsella.
The agreement formed part of $5b worth of deals announced today by GE to support the country’s energy and aviation sectors.
“We look forward to developing more wind power projects in accordance with the 1GW initiative signed with the Ministry of Industry and Trade last year,” said GE’s chief executive for ASEAN Wouter Van Wersch.
Image: GE
