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September 29, 2016

GE and Mainstream Renewable Power to build $1.5bn windpower plants in Vietnam

General Electric (GE) and Ireland-based Mainstream Renewable Power (MRP) have agreed to build a $1.5bn large-scale windpower plant in Vietnam.

General Electric (GE) and Ireland-based Mainstream Renewable Power (MRP) have agreed to build a $1.5bn large-scale windpower plant in Vietnam.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
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The projects would include both greenfield and partially developed sites and will be financed through the joint development agreement signed between MRP and GE Energy Financial Services.

The partnership aims to compliment the 1GW initiative signed between GE and Vietnam Ministry of Industry and Trade in May this year to speed-up large-scale Vietnamese wind projects.

"We look forward to expanding our operations in Asia and working with GE to bring much needed power to Vietnam."

GE's energy financial services managing director and global development leader John Bottomley said: “GE Energy's financial services engages in strategic co-development opportunities with select GE customers and in countries where GE's capital, technology, and industrial presence can be leveraged to add real tangible value. We call this the GE store approach”

As part of the agreement, Vietnam's abundant wind resource will be combined with GE’s technology and in-country manufacturing capability, and MRP’s expertise in development, construction, and operations to help reach the 2020 renewable energy target.

MRP's chief operating officer Andy Kinsella said: “Delivering low-cost renewable energy in high-growth markets such as Vietnam is Mainstream's key strategic focus.

“We have a strong track record as a leading developer in Africa and South America and we look forward to expanding our operations in Asia and working with GE to bring much needed power to Vietnam.”

Vietnam's Power Master Plan VII seeks to raise the output from 194-210 billion kilowatt hours (kWh) in 2015 to 330-362 billion kWh in 2020 to meet the growing power demand.

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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