GE signed contract to supply turbines for Phuong Mai 1 Wind farm
On March 19, General Electric, the US leading energy and technology company, hosted a signing ceremony of a wind turbine supply contract with Phuong Mai Wind Power JSC at its office in Hanoi.
Accordingly, General Electric (GE) will provide wind turbines for Phuong Mai 1 Wind Power Plant in Binh Dinh, with a total contract value of over 13 million USD.
The ceremony had the presence of GE Vietnam employees and leaders and online observation of representatives from several Asian regional branches.
Representatives of Phuong Mai Wind Power were from two co-investor units: Hanoi Construction - Industry Investment Joint Stock Company (HANOINCO) and Truong Thanh Investment and Construction JSC. In addition, there were representatives of the sponsor for the project - Vietnam Bank for Agriculture and Rural Development (Agribank) of Trang An Branch.
At the event, Mr. Nguyen Duy Hung - Deputy General Director of Truong Thanh Investment and Construction JSC shared that the contract to supply wind turbines between GE and Phuong Mai 1 was the result of a 3-month negotiation.
With the signing, Truong Thanh Company expected to accomplish the project in the first quarter of 2021 prior to its initial deadline.
Phan Xuan Vu, Vice General Director of Hanoinco, said that the Phuong Mai 1 wind farm project had been on-going for a long time. However, upon the collaboration with Truong Thanh, Hanoinco and the financial sponsor Agribank, the project was accelerated.
On behalf of the equipment provider, Nguyen Thien Dung, representative of GE, stated that this was an important project to GE as it was GE’s first project in Vietnam in 2020.
Phuong Mai 1 wind farm in economic zone Nhon Hoi, Binh Dinh has the total investment of 1,576 billion, in an area of 141.9ha, with the capacity of 30MW. The plant is expected to generate 80 million kWh/year. The amount of CO2 emission is reduced by around 50,000 tons/year.
The construction of the plant is estimated to support the local energy supply for Binh Dinh province, according to Vietnam energy plan and the world’s development direction towards clean energy. At the moment, renewable energy is invested and developed by many countries around the world. Vietnam will need to add 6,030 – 11.630 MW of wind power to the country's energy mix by 2025 and 10,090 – 18,390 MW by 2030.