Vietnam

Vietnam’s energy system presents the opportunity for the creation of a renewable energy industry. A renewables industry will enable Vietnam to diversify its energy supply, ensure energy independence, and provide cheap and reliable electricity. The success of this industry will act as a breakthrough for the Vietnamese government in implementing the goals of green growth and sustainable development that is also stated in resolution 55/NQ-TW.

The 1.4 GW Phu Cuong Soc Trang offshore wind farm will be the largest wind farm in SE Asia when complete.

In November 2021, the project received provincial government approval through the award of the Investment Registration Certification (IRC) for the first 200 MW of the offshore wind farm.  The project is anticipated to reach financial close in 2022, enabling first power to commence as early as 2023.  

Visit the project website here.

In November 2020, Mainstream signed a joint venture agreement with Advanced Information Technologies Corporation (AIT) to co-develop a 500MW offshore wind project in Ben Tre province.

The project has received the requisite site survey licence, completed a feasibility study and 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).

In June 2021, Mainstream signed an agreement to acquire an 80 per cent shareholding in Technology and Development Joint Stock Company Limited (D&T), which is developing a 405 MW portfolio of solar projects in the Dak Nong province of central Vietnam.

The portfolio of three projects, which is included in the Vietnam Government’s Power Development Plan 7 (PDP 7) has been in development since 2019 and is expected to reach financial close in 2022.