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March 27, 2020

SGRE secures wind turbine supply contract in Vietnam

Wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) has secured a wind turbine supply contract in Vietnam.

Wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) has secured a wind turbine supply contract in Vietnam.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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As per the terms of the contract, SGRE will provide 25 of its SG 4.5-145 wind turbines to the 113MW Hoa Thang 1.2 wind farm.

The facility is situated in the Binh Thuan province, on the South-Central coast of Vietnam.

Hoa Thang Energy is developing the project. The company is a special-purpose subsidiary of Vietnam-based construction group Trading Construction Works Organization (WTO).

WTO CEO Nguyen Thanh Oai said: “With deep rooting in Vietnam, we are pleased to partner with Siemens Gamesa and leverage its industry-leading experience and reputation to develop renewable energy in the country.

“We selected Siemens Gamesa as the most appropriate supplier for our first wind farm project. This first-ever cooperation between the two companies will lay a good foundation for us to further explore the wind market in Vietnam.”

The wind farm, which is reported to be one of the largest in the country, will generate clean energy for more than 240,000 people in the country. It is planned for commissioning next year.

Additionally, Siemens Gamesa will also provide operation and maintenance services for a period of ten years.

Siemens Gamesa APAC onshore business unit CEO Richard Paul Luijendijk said: “With an accumulated installation of 101GW, Siemens Gamesa can leverage its global expertise and footprint to partner with Hoa Thang Energy to develop one of the largest wind farms in Vietnam.

“As market scale and financing are helping to unlock potential in Vietnam, we are committed to supporting our Vietnamese customers to accelerate the penetration of renewable energy and bring clean power for generations to come.”

The Vietnamese Government hopes to reach 125-130GW of power generation capacity by 2030, which will be an increase of 46GW from 2018.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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