Vietnamese construction company Fecon has secured a deal to build the 500MW Vung Tau offshore wind farm.
The company was appointed by Corio Generation for the construction, as the duo signed a joint development agreement in Hanoi.
Corio is a portfolio business of Macquarie’s Green Investment Group, while Fecon is a leading energy group with record in wind and solar energy.
According to the company, the agreement “demonstrates Corio’s commitment towards renewable energy development in Vietnam.”
It has been reported that Vung Tao could be among the first large-scale offshore wind projects to be built in Vietnam.
Upon completion of construction, the project could produce around 1250 gigawatt-hours of electricity. It means the project could avoid more than 600,000 tonnes of carbon emissions annually.
Corio Generation chief executive Jonathan Cole remarked, “With its vast wind resources, Vietnam can be a South-east Asian powerhouse in offshore wind, providing clean, affordable electricity, as well as supporting jobs and economic opportunities for local communities."
He further stated that the company has been exploring projects and partnerships for offshore wind in Vietnam.
Meanwhile, Fecon Chairman Pham Viet Khoa remarked, “We believe this project will be delivered to a high standard, meeting Vietnam’s urgent power needs for developing the economy.
The duo has pledged to boost the development of Vietnam's offshore wind sector.