DNV GL Americas has entered into a contract with Phu Cuong Group (PCG) to deliver a feasibility study for a USD 435 million, 170MW Phu Cuong 1 nearshore wind farm project, the first in PCG’s planned series of similar projects along Vietnam’s southern coastline in Soc Trang province.
PCG, a private firm majoring in real estate development and seafood exporting, plans to develop an 800MW pipeline of wind power to meet the rising demand for energy of Vietnam’s growing economy. The Vietnam government has set a target for wind energy development to reach 800MW by 2020, 2GW by 2025 and 6GW by 2030.
“As Vietnam significantly increases its electricity generating capacity, I am delighted to see PCG supporting the global climate change imperative with its leadership in building a sustainable electricity supply for Vietnam,” said Mathias Steck, executive vice president Asia Pacific for DNV GL’s energy division.
DNV GL will assess the potential for wind production, review permitting and land control issues, evaluate the needs for a safe, reliable and affordable connection to the province’s electrical grid, provide a foundational design, estimate potential construction costs and recommend the optimal approach to financing it.
“Our team looks forward to applying our global offshore expertise to help support the success of wind power in the growing economy of Soc Trang province and across the Mekong Delta,” said Michael Drunsic, DNV GL’s offshore commercial lead in North America, who will manage the project.
The feasibility study is the first wind power project in Vietnam for DNV GL.
PCG Deputy General Manager for Energy and Investment, Pham Quoc Anh, said: “Wind energy is still very new in Vietnam. As one of the pioneers, Phu Cuong Group looks for reliable, established partners to help us develop the project following the best standards. We are confident that DNV GL, with their experience in developing 150,000MW wind energy globally, will produce a high quality Feasibility Study for Phu Cuong 1 Wind Farm, creating the foundation for the project’s success in future.”