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June 26, 2020updated 18 Aug 2020 5:02am

Vestas wins wind turbine supply contract in Vietnam

Danish wind turbine manufacturer Vestas has secured a 48MW order for a wind project in Quang Tri Province of Vietnam.

Danish wind turbine manufacturer Vestas has secured a 48MW order from Phong Lieu Wind Power (PLWP).

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The company has bought the turbines for construction of a wind project in Quang Tri Province of Vietnam.

As per the terms of the contract, Vestas will carry out the supply, transport, installation and commissioning of 12 V150-4.2 MW wind turbines.

Vestas Asia Pacific president Clive Turton said: “Vietnam is the most active country in the South East Asia region for wind energy, and the Vestas team there has done an outstanding job of capturing the majority of this market.

“We are very glad to continue this journey through our partnership with Phong Lieu Wind Power JSC to develop this project and continue to make the most out of the excellent wind resources in the Quang Tri province.”

With this latest order, the Danish firm says it has increased its footprint in this area to more than 300MW in the province and almost 700MW across the country.

The Phong Lieu wind farm will use Vestas’ project management and transportation capabilities to develop site-specific engineering in the area’s remote, complex and mountainous terrain.

Additionally, Vestas has signed a ten-year Active Output Management 5000 service agreement with the Vietnamese developer to maximise energy production for the site.

The company expects construction work to finish in the third quarter of 2021. This means it would finish before the wind feed-in tariff deadline in Vietnam.

Earlier this month, Vestas secured a 226MW wind turbine supply order in Russia. The Wind Energy Development Fund (WEDF), jointly formed by PJSC Fortum and JSC RUSNANO, awarded the contract. Under its terms, Vestas will supply its V126-4.2MW wind turbines to five wind farms in the Rostov and Astrakhan region.

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Free Report
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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.
by GlobalData
Enter your details here to receive your free Report.

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