Mainstream Renewable Power has signed a Joint Development Agreement with Vietnamese company Advance Information Technologies Corporation (AIT), to co-develop a 500MW offshore wind project in Ben Tre province, Vietnam.
Mainstream’s Development Director in Vietnam, Bernard Casey, centre left, and AIT Director Hoang Thanh Hai, centre right, lead their teams in toasting the new joint venture agreement at the signing ceremony in Hanoi.
The project received the requisite site survey licence earlier this year. Since then, it has completed a feasibility study and then submitted a Power Development Plan (PDP) application to Vietnam’s Ministry of Industry and Trade with a view to the project being included in the Vietnam Government’s forthcoming national PDP period 2021-2030 with vision to 2045 (PDP 8).
The project is expected to reach Financial Close and start construction by 2023/24, and reach commercial operation by 2025/26, when it will provide much-needed power to support the economic growth in Vietnam.
Ram Natarajan, Mainstream CEO Asia Pacific, said: “Mainstream recognises the great potential of offshore wind in Vietnam, as well as the ambition of the Vietnamese Government to develop a sustainable green economy.”