Siemens Gamesa Renewable Energy (SGRE) has signed a memorandum of understanding (MoU) with Vietnam-based energy company BCG Energy to supply equipment and technical solutions for the development of wind farm facilities in Vietnam.
The $400m agreement with SGRE is expected to help BCG Energy expedite the development of wind power projects in the country, with more than 500MW of capacity due to be installed in the coming years.
The companies have signed the deal on the sidelines of the United Nations COP26 summit, which is currently being held in Glasgow, UK.
During the meeting, both SGRE and BCG Energy agreed to support Vietnam’s green transformation and sustainable development objectives by jointly working with stakeholders to encourage economic development in the country.
SGRE said that Vietnam’s natural climate conditions are suitable for the development of wind power projects.
BCG Energy will also work with European companies to restructure and support industrial production and renewable energy technologies.
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Part of Bamboo Capital Group, BCG Energy accompanied Vietnamese Prime Minister Pham Minh Chinh to the COP26 summit.
During the meeting with Chinh, SGRE and BCG Energy officials shared their proposals for establishing a wind power supply chain in Vietnam for enhancing production capacity.
BCG Energy has a portfolio of wind power projects, solar fields and rooftop solar power projects, with a total of 577.1MW of solar capacity.
The company aims to install 1.5GW of generating capacity by 2023.
In January, Siemens Gamesa received a 117MW wind turbine contract from Hanbaram Wind Power and a 100MW order to supply 25 units of its 4.X platform for the Hung Hai wind farm in Vietnam.
The company will work on the Hanbaram project together with engineering, procurement and construction contractor SEPEC-China Energy.
The two onshore projects will have a total capacity of 217MW and generate electricity for around 460,000 people.