Phu Cuong Wind Farm Project is a 1,400MW offshore wind power project. It is planned in South China Sea, Soc Trang, Vietnam. The project is currently in permitting stage. It will be developed in multiple phases. The project construction is likely to commence in 2021 and is expected to enter into commercial operation in 2023.
Wind Power Market seeing increased risk and disruption
| Project Type | Total Capacity (MW) | Active Capacity (MW) | Pipeline Capacity (MW) | Project Status | Project Location | Project Developer | Offshore | 1,400 | – | 1,400 | Permitting | Soc Trang, Vietnam | GE Renewable Energy; Mainstream Renewable Power; Phu Cuong Group |
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Description
The project is being developed by GE Renewable Energy, Mainstream Renewable Power and Phu Cuong Group. GE Financial Services, Mainstream Renewable Power and Phu Cuong Group are currently owning the project.
The project is expected to supply enough clean energy to power 1,600,000 households, to offset 1,800,000t of carbon dioxide emissions (CO2) a year.
Development Status
The project construction is expected to commence from 2021. Subsequent to that it will enter into commercial operation by 2023.
Power Purchase Agreement
The power generated from the project will be sold to Vietnam Electricity under a power purchase agreement at the rate of $0.098kWh.
Contractors Involved
Phu Cuong Wind Farm Project (Phu Cuong Wind Farm Project Phase IA) will be equipped with GE Renewable Energy turbines. The phase consists 29 turbines.
Phu Cuong Wind Farm Project (Phu Cuong Wind Farm Project Phase IB) will be equipped with GE Renewable Energy turbines.
About GE Renewable Energy
GE Renewable Energy (GE) is a subsidiary of GE Group, supplies technology, products, and services to the renewable energy industry. The company products include onshore and offshore wind turbines, hydroelectric turbines, control systems and generators, geothermal power turbines, tidal turbines and solar power plant solutions. In addition, the company offers engineering, procurement and construction services, operation and maintenance, optimization, and plant upgradation and assessment services. The company’s customers include MARS, Inc., President Container Group, Inc. Kennedy Renewables, E.ON, and Renova, and the Coastal Community Action Program. GE is headquartered in Paris, France.
About Mainstream Renewable Power
Mainstream Renewable Power Ltd (Mainstream) is the renewable energy developer. The company carries out the development, finance, construction, and operation of large-scale renewable energy plants. It also develops and builds onshore, and offshore wind and solar power plants. Mainstream sold its projects to global utilities such as EDF Group and Orsted; and infrastructure funds, pension funds, and global brands. It has partnership with governments, developers, communities and financers. The company operates through its offices across Ireland, Vietnam, the Philippines, Canada, Egypt, Ghana, Senegal, the US, Chile and South Africa, among others. Mainstream is headquartered in Sandyford, Dublin, Ireland.
Methodology
All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.
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