HO CHI MINH CITY, Vietnam -16 June 2016- At a signing ceremony today in Ho Chi Minh City, DNV GL Americas entered into a contract with Phu Cuong Group (PCG), to deliver a feasibility study for a near-offshore wind farm under a grant from the United States Trade and Development Agency (USTDA) to PCG.
“The study will support efforts to develop Phu Cuong 1, the 170-megawatt (MW) wind farm (USD 435 million investment) that is the first in PCG’s planned series of near-offshore wind power projects along Vietnam’s southern coastline in Soc Trang province." PCG, an established private firm majoring in real estate development and seafood exporting, plans to develop an 800 MW pipeline of wind power to meet the rising demand for energy of Vietnam’s growing economy. The Vietnam government has set a target for wind energy development to reach 800 MW by 2020, 2000 MW by 2025 and 6000 MW by 2030.
“As Vietnam significantly increases its electricity generating capacity, I am delighted to see PCG supporting the global climate change imperative with its leadership in building a sustainable electricity supply for Vietnam,” said Mathias Steck, executive vice president Asia Pacific for DNV GL’s energy division.
DNV GL will assess the potential for wind production, review permitting and land control issues, evaluate the needs for a safe, reliable and affordable connection to the province’s electrical grid, provide a foundational design, estimate potential construction costs and recommend the optimal approach to financing it.
“Our team looks forward to applying our global offshore expertise to help support the success of wind power in the growing economy of Soc Trang province and across the Mekong Delta,” said Michael Drunsic, DNV GL’s offshore commercial lead in North America, who will manage the project.
The feasibility study is the first wind power project in Vietnam for DNV GL, which has served the nation’s energy, maritime and oil and gas industries since 1996, particularly in risk management.
PCG Deputy General Manager for Energy and Investment Pham Quoc Anh said, "Wind energy is still very new in Vietnam. As one of the pioneers, Phu Cuong Group looks for reliable, established partners to help us develop the project following the best standards. We are confident that DNV GL, with their experience in developing 150,000 MW wind energy globally, will produce a high quality Feasibility Study for Phu Cuong 1 Wind Farm, creating the foundation for the project’s success in future.
Phu Cuong Group
Established since the 1990s, Phu Cuong Group is the pioneer in seafood processing and exporting of Vietnam. In 2009, PCG started its first real estate project to develop Phu Cuong City, a 148-ha urban area along the west coast of Kien Giang province, Vietnam. The project has been a great success with 20,000 residents after only 6 years of development. Being encouraged by the government, PCG decided to invest in renewable energy to support green development of the country.
Phu Cuong Wind Farm Program
Located in Mekong Delta, one of the best locations for wind farm development in ASEAN, the 800 MW near-offshore wind energy pipeline will be built along 65 km coastline of Soc Trang province. The project will make use of the available sea surface for energy production with limited effect on people’s lives. The first phase of the series, Phu Cuong 1 Wind Farm (170 MW), will start construction as soon as 2017, and it is the first wind farm in Vietnam that developed with international standards to attract international investors and financiers.
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