AES Vietnam, a division of The AES Corporation (NYSE: AES), on Tuesday launched its new brand identity that reflects the company’s commitment and the world’s transition to a cleaner energy future.
Among the forerunners in clean growth and innovation, AES has been spearheading the energy industry with cutting-edge technologies in LNG to power, renewables, digital innovation, and battery energy storage while creating the greener, smarter energy solutions the world needs.
With 15 years of operation in Vietnam, AES continues to play a key role in meeting the country’s ever-increasing energy needs.
The company’s 2.2 GW combined cycle gas turbine (CCGT) power plant and Son My LNG terminal project, both of which are under development, will bring a total investment of US$3.2 billion to Binh Thuan Province and significantly enhance the local economy.
The plant and terminal will together play a major role in shaping Vietnam’s energy future by diversifying the energy mix with imported LNG as well as meeting the country’s increasing demand for sustainable and affordable electricity.
Along with the launch of its new brand, AES Vietnam introduces new product offerings in solar energy and battery storage, with the aim of helping local customers reach a higher standard of clean energy, secure their sustainable energy future, and achieve benefits through shared platforms and applications.
“With the new branding and product offerings, AES Vietnam continues positioning itself as a global company with strong local expertise, providing innovative solutions and cutting-edge technologies to help Vietnam meet its renewable energy goals, which were outlined in the Politburo’s Resolution No.55-NQ/TW,” said David Stone, president of AES Vietnam.
The new offerings in solar power include 5B’s revolutionary MAVERICK design, which enables customers to deploy up to two times more solar energy at three times the speed using 50 percent less land.
AES is also the world leader in lithium-ion-based energy storage, both through the firm’s projects and via Fluence – a Siemens and AES company.
Worldwide, energy storage is considered a ‘force multiplier’ for renewable energy, as it allows for the integration of more solar, wind and distributed energy resources, and increases grid stability.
The offerings will enable AES to make it easier for organizations in Vietnam to speed up their clean energy transformation, make meaningful contributions toward a sustainable climate, and build competitive advantages within their industries, while at the same time accelerating the clean energy future the world deserves and needs.
AES Vietnam’s vision is to be a leading sustainable power company in Vietnam that provides safe, reliable, and affordable energy.
On September 30, 2019, AES was officially granted approval by the government of Vietnam to develop a 2.2 GW Son My 2 combined cycle gas turbine (CCGT) power plant, which will be located in Binh Thuan Province.
The Son My 2 plant will have a 20-year contract with the Vietnamese government and is expected to achieve financial completion in 2021 and begin commercial operations in 2024.
In October 2020, AES Vietnam and PV GAS inked a Term Sheet of the Joint Venture Agreement for the Son My LNG terminal.
The terminal has an installed capacity of 450 TBtu, representing a total investment of about $1.4 billion.
The terminal is expected to achieve financial completion in 2022 and begin commercial operations in 2025.
It will play an important role in supporting Vietnam’s energy transition and economic growth.
AES, through its subsidiary, AES Mong Duong Power Company Limited, has successfully developed and arranged financing for the Mong Duong 2 Power Project of 1,242 MW with total investment of approximately $2.1 billion.
The AES Corporation is a Fortune 500 global energy company accelerating the future of energy.
Together with its many stakeholders, the company is delivering the greener, smarter energy solutions the world needs.
Its diverse workforce is committed to continuous innovation and operational excellence, while partnering with customers on their strategic energy transitions and continuing to meet their energy needs.