USTDA grant to fund work of North American team of global offshore experts. DNV GL study to assess key factors including wind potential, environmental impact and grid interconnection. Phu Cuong Group’s 170 MW farm is first in series of projects to meet renewable energy target of Vietnam and also the needs of growing economy. At a signing ceremony today in Ho Chi Minh City, DNV GL Americas entered into a contract with Phu Cuong Group (PCG), to deliver a feasibility study for a near-offshore wind farm under a grant from the United States Trade and Development Agency (USTDA) to PCG.
“The study will support efforts to develop Phu Cuong 1, the 170-Megawatt wind farm (USD $435m investment) that is the first in PCG’s planned series of near-offshore wind power projects along Vietnam’s southern coastline in Soc Trang province.” PCG, an established private firm majoring in real estate development and seafood exporting, plans to develop an 800 MW 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 800 MW by 2020, 2000 MW by 2025 and 6000 MW 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, which has served the nation’s energy, maritime and oil and gas industries since 1996, particularly in risk management.
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.”