Ireland’s Mainstream Renewable Power will partner with Advance Information Technologies Corporation (AIT) from Vietnam to jointly develop a 500-MW wind farm project in Vietnamese waters.
Offshore wind farm. Author: Beverley Goodwin. License: Creative Commons, Attribution 2.0 Generic
The Irish wind and solar developer said on Wednesday it has struck a joint development agreement with engineering, procurement and construction (EPC) specialist AIT for the project off Vietnam’s Ben Tre province. Mainstream and its partner expect that financial close on the project will be achieved by 2023/24, enabling construction to begin, with commercial operations targeted by 2025/2026.
The offshore wind project, dubbed Ben Tre, already has in place a site survey licence and a feasibility study has been completed. Based on the results, a power development plan (PDP) has been filed with Vietnam’s Ministry of Industry and Trade.
Commenting on the partnership, Ram Natarajan, Mainstream’s CEO for Asia Pacific, pointed out that Vietnam offers “great” potential for offshore wind development. “The JV has the potential to expand and will also look to develop further wind and solar projects in Vietnam in the near future,” he added.
Dublin-based Mainstream is working on a 1.4-GW offshore wind project in Vietnam, together with local partner Phu Cuong Group (PCG). The capacity will be installed in phases off Soc Trang province.