Mainstream Renewable Power and GE are teaming up to develop large-scale wind farms in Vietnam.
The two companies say they will develop, build and operate wind farms, including both partially developed and greenfield sites, with financing provided by both Mainstream and GE Energy Financial Services.
The agreement is designed to complement an earlier agreement between GE and Vietnam’s Ministry of Industry and Trade to develop 1 GW of wind power projects.
“Delivering low-cost renewable energy in high-growth markets such as Vietnam is Mainstream’s key strategic focus,” said Mainstream Renewable Power’s Chief Operating Officer Andy Kinsella. “We have a strong track record as a leading developer in Africa and South America, we look forward to expanding our operations in Asia and working with GE to bring much needed power to Vietnam.”
Vietnam’s Power Master Plan VII forecasts the need for increasing power generation from 194-210 billion kWh in 2015 to 330-362 billion kWh in 2020. The growth in power supplies is expected to boost demand for renewable energy, Mainstream said.
The country’s Sustainable Development Strategy 2011–2020 identifies clean and renewable energy development and its growing share in Vietnam’s energy consumption mix as priorities for a sustainable economy.
