Energy

Iberdrola has bought the renewable energy assets of SOWITEC Group in Vietnam SOWITEC Group has sold its Vietnamese operations to Iberdrola which is looking for markets with growth potential in the Asia-Pacific. This decision reinforces the favourable outlook for the final stages of development and implementation of the 550MW renewable portfolio under development by SOWITEC Vietnam, distributed in six projects: five wind farms and a 50MW floating photovoltaic project. The projects, with capacity between 50MW and 250MW, are scheduled to be completed between 2022 and 2024 and will form part of the country's energy strategy, which plans to cover the growth of energy demand, mainly through renewable projects. SOWITEC has been active in Vietnam since 2017 and founded a local subsidiary named SOWITEC Vietnam. The portfolio is located in various Vietnamese provinces and was developed by the local team of SOWITEC. Vietnam foresees the installation of more than 20,000 renewable MW … [Read more...] about Iberdrola buys renewable energy assets in Vietnam

The office will support activities related to the company’s commitment to fostering economic growth and accelerating the future of energy in Vietnam with its partners in the country. AES is investing in infrastructure projects in the province, including the 2.2 GW Son My 2 combined cycle gas turbine (CCGT) power plant and Son My LNG terminal. The total investment in the 2.2 GW Son My 2 CCGT power plant and Son My LNG terminal will be approximately US$3.2 billion and is expected to significantly enhance the local economy in Binh Thuan. The construction of the plant and the terminal will generate more than 4,500 jobs, as well as improve the livelihoods of the local community. “Our new office will play an important role in developing AES’ LNG projects in Binh Thuan Province on the timeline agreed to with the government of Vietnam,” said David Stone, president of AES Vietnam. “Our work in Vietnam creates not only jobs but also opportunities for valuable technology and knowledge … [Read more...] about AES accelerates future of energy, economic growth in southern Vietnam

Germany's wpd enters Vietnam with Kon Plong onshore wind energy project The project marks wpd’s entry into the Vietnamese market. The company will focus on project developments through cooperations for both onshore and offshore wind. The development of the project, planned for a total capacity of up to 103.5MW, has been initiated by Levanta Renewables and advanced with support from its Vietnamese partners. The partnership with wpd will drive the next development stage for the Kon Plong project. Wind measurements have confirmed attractive wind resources at the site in the central highlands. The Kon Plong project has been included in Vietnam’s Power Development Plan 7 and is therefore well positioned to receive central government support for further development steps. According to current planning, construction is expected to start as early as 2022. “Our market entry in Vietnam is part of the expansion of our activities in the Asia-Pacific region. The Kon Plong project and the … [Read more...] about German wpd enters Vietnam with Kon Plong onshore wind energy project

Eleven of 13 cities and provinces in the region hold great potential for solar energy development, with average solar radiation of 1.387-1.534 Kwh per year. Coastal areas in the region have high potential to develop wind power , with wind speeds of 6.5-7m per second. Taking advantage of its natural conditions and investment attraction policies, the region has become a destination for investors in renewable energy projects. With long coastline and estuaries and islands also create favourable conditions for the localities to build warehouses, ports, gas pipelines and storage and regasification systems to develop gas-fired power projects./. VNA … [Read more...] about Mekong Delta attractive to renewable energy investment

AC Energy from the Philippines counts Vietnam as its largest international market Since 2017, AC Energy, the power arm of conglomerate Ayala Corp., has been pushing its renewables agenda to become a primary mover in Vietnam. The company aims to tap into the country's potential renewable energy growth and favourable tariff system. “Vietnam is an ideal place for sustainable investments as it leads the race to clean energy transition in the post-COVID world,” said Eric Francia, AC Energy president and CEO. “Our partners’ deep market expertise bolster our leadership position in Vietnam as we aim to play a meaningful role in the green-led recovery by building climate resilience and creating jobs. We remain well-poised to be one of the largest listed renewables platforms in Southeast Asia, and reach 5,000MW of renewables capacity by 2025.” Deeming Vietnam as a priority market, AC Energy has teamed up with several partners to expand its portfolio in the country. Specifically, AC … [Read more...] about AC Energy reaches 1,000MW milestone in key Vietnam market

With the FEED contract done, the Bac Lieu LNG project is moving into the construction phase Delta Offshore Energy (DOE) and Bechtel signed a contract to provide Front End Engineering Design (FEED) services for a new 3,200MW combined cycle gas turbine (CCGT) power plant in Bac Lieu province. The plant consists of four single shaft units of H-class gas turbine technology and will form the energy backbone of the Mekong Delta region, earmarked as a focus area for major economic development. “This power plant is a game-changer for Bac Lieu province,” said Scott Osborne, Bechtel’s general manager, infrastructure, Asia-Pacific. “We want to make a difference in supporting the Mekong Delta and Vietnam by creating jobs and training, working with local businesses, and providing new opportunities for those in the region.” Bac Lieu is planned to become an industrial hub in the coming years with modern factories and key infrastructure including roads, bridges, schools, and hospitals being … [Read more...] about 3,200MW LNG Bac Lieu inches closer to starting construction thanks to FEED contract