Mainstream Renewable Power has signed a Joint Development Agreement with the Vietnamese company Advance Information Technologies Corporation (AIT) to jointly develop a 500MW offshore wind project in the Ben Tre province, in southern Vietnam. The project, which could reach financial close and enter construction by 2023-2024 and enter commercial operation by 2025-2026, received the requisite site survey licence earlier in 2020. The consortium has completed a feasibility study and then submitted a Power Development Plan (PDP) application to Vietnam’s Ministry of Industry and Trade with a view to the project being included in the Vietnam Government’s forthcoming national PDP period 2021-2030 with vision to 2045 (PDP 8).
In October 2020, Mainstream Renewable Power, in partnership with the Phu Cuong Group, applied for raising the capacity of the second phase of the Phu Cuong Soc Trang offshore wind project in Vietnam from 400 MW to 1,000 MW. The first 200 MW of the first phase (400 MW) secured authorisation in June 2020; the 200 MW stage is scheduled to enter construction in 2021 and commissioning is expected in 2023.
According to the Roadmap for Offshore Wind Power Development in Vietnam issued by the World Bank Group and the Danish Energy Agency, Vietnam has an offshore wind potential of 160 GW within the distance to shore from 5 km to 100 km (estimates consider wind speed higher than 7 m/s at 100 metres above sea level). The parties recommend a 10 GW development which could be operational by 2030 (including 1 GW in 2020-2022, and 3-5 GW in 2023-2025).
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