- Memorandum of understanding to continue development of wind power in Vietnam
- GE to help HBRE to undertake wind engineering analyses, analyze site layout, and assess constructability
HANOI, Vietnam -- September 24th, 2014 -- GE (NYSE: GE) and HBRE Wind Power Company Ltd. (HBRE) have recently signed a memorandum of understanding for cooperation in developing the Tay Nguyen wind farm in Dak Lak province, located in the central highlands of Vietnam.
The agreement between GE and HBRE on the Tay Nguyen wind power project will utilize GE technology in a joint effort to develop economic and renewable energy in Vietnam. Under the agreement, GE will help HBRE to undertake wind engineering analyses, analyze site layout, and assess constructability.
GE will also provide wind turbine generators for the site conditions. Additionally, GE will support HBRE in developing electrical design concepts and facilitating discussions on financial arrangements, as well as working with relevant agencies to move the project forward. GE is committed to the long-term maintenance of the wind turbines and a full service agreement is also part of the agreement.
HBRE is a real estate company and is responsible for the design, construction and operation of the wind farm at Dile Yang.
The Tay Nguyen project is located in Ea H'Leo district, Dak Lak province, which has a high potential for wind energy, with an average wind speed of 7.6 meters per second. GE has 16 megawatts of installed wind energy capacity in Vietnam.
The signing ceremony was held at the Sofitel Metropole Hanoi with the participation of Claire A. Pierangelo, Acting Deputy Chief of the Mission of the US Embassy in Vietnam, Hoang Trong Hai, Chairman of Dak Lak People Committee, Pham Trong Thuc, Director of the Renewable Energy Department under MoIT, John G. Rice, Vice Chairman of GE and President & CEO of GE Global Growth and Operations, and other GE and HBRE executives.
"The cooperation with HBRE on the Tay Nguyen project builds from our accomplishment of providing 52 wind turbines to the Bac Lieu wind power plant last December," said chief executive officer of GE Vietnam & Cambodia Nguyen My Lan at the signing ceremony. "This is a clear demonstration of our continuous commitment to support the development of the local community as well as to contribute to the development of renewable energy in Vietnam."
"We are delighted to cooperate with GE on this project and believe this collaboration will be successful," Mr Ho Ta Tin, Chairman of the HBRE Company said. "This project will contribute to the improvement of social and economic conditions in Dak Lak by creating hundreds of jobs that require technical and industrial skills, while contributing additional power to the national grid. We also hope this project will help attract further investment to Dak Lak and provide momentum to move forward with wind power development in the region and in Vietnam."
GE provides technology support for a variety of power generation projects across the country. With an installed capacity of more than 2,000 megawatts in Vietnam, GE equipment today supplies approximately 10 percent of the country's power.
In 2009, GE opened a factory to support its wind division in the northern port city of Hai Phong. Last year, GE increased its total investments in the factory to $110 million, up from an initial $50 million, to expand its production capacity to meet global demand. The manufacturing facility has created over 600 local jobs and exported thousands of wind turbine generators and other energy equipment to GE's manufacturing and service centers around the globe.
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About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world's most complex challenges related to water availability and quality. Power & Water's six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE's largest industrial business.
About GE in Vietnam
In 1993, GE was one of the first American companies established in Vietnam before the US Embargo was lifted. As a rapidly developing country, Vietnam has broad needs in Aviation, Energy and Healthcare that are critical for its sustainable, environmentally-conscious growth. GE provides Vietnam a unique company-to-country approach, helping the country become a stronger global presence.
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