AC Energy investing in new wind power plant in Vietnam
AC Energy Inc. is investing in another wind project in Vietnam.
The Ayala Corp. unit has partnered with UPC Renewables anew to jointly develop two wind projects in the Mekong Delta of southern Vietnam.
The joint venture has commenced construction for the projects, which have aggregate capacity at 60 megawatts (MW).
Under the partnership, AC Energy will participate in both projects with a 50 percent voting stake through its wholly owned subsidiary, AC Energy Vietnam Investments 2 Pte. Ltd.
This is the first joint project of AC Energy and UPC Renewables in Vietnam.
“We look forward to building these innovative projects in Vietnam as our first projects in the country in partnership with AC Energy. The synergies between UPC Renewables and AC Energy continue to allow us to advance innovative and challenging renewable energy projects in the Asia-Pacific region and we look forward to working with AC Energy again to advance wind energy in Vietnam,” UPC Renewables chairman and CEO Brian Caffyn said in a statement.
With the aim of qualifying for the current round for wind feed-in-tariff of 8.5 US cents per kwh, both projects are set to be commissioned in the third quarter of 2021.
AC Energy International COO Patrice Clausse said the project is part of the company’s push for the adoption of new technologies and best practices to grow its assets in renewables.
“As always, we are delighted to partner with UPC Renewables as we move toward playing a more significant role in helping Vietnam’s energy security, and become one of the largest listed renewables platforms in Southeast Asia,” Clausse said.
For the project, Vestas Asia Pacific will provide an active output management service agreement for up to 20 years.
Clausse said Vestas would provide a game-changer that would enhance the competitiveness of wind energy.
The projects will utilize wind turbines from Vestas delivered in different power ratings with site-specific towers for both projects.
To maximize energy yields on both sites, the turbines will feature a record hub height of 162 meters, making them the tallest in Vietnam to date.
“The project features the tallest towers in Vietnam and showcases Vestas’ ability to optimize the value proposition for our client and develop site-specific solutions for all wind sites,” Vestas Asia Pacific president Clive Turton said.
AC Energy and UPC Renewables started their partnership in 2013 during the development, construction and operation of the 81-MW North Luzon Renewables in Pagudpud, Ilocos Norte, Philippines.
Subsequently in 2018, the two companies developed the first 75-MW utility-scale wind farm in Indonesia.
Meanwhile, AC Energy is also working on two other projects in Vietnam – the 170-MW Mui Ne Project in partnership with The Blue Circle (TBC), 80-MW solar farms in the provinces of Khanh Hoa and Dak Lak with AMI Renewables Energy Joint Stock Co., and over 300-MW of solar projects Ninh Thuan province with the BIM Group.
All of these projects are part of AC Energy’s regional expansion and are critical in its goal of exceeding five gigawatts (GW) of attributable capacity, with 50 percent of energy generated from renewables, by 2025.
Source: https://www.philstar.com/business/2020/06/09/2019521/ac-energy-investing-new-wind-power-plant-vietnam
