Denmark’s leading wind power business Vestas and Vietnam’s top industrial park developer Son My Industrial Park Investment Construction and Trading Infrastructure JSC (IPICO) have announced plans to cooperate in wind power development.
Per the memorandum of understanding (MoU) signed between Vestas and IPICO on Tuesday, the two sides will focus on developing wind power projects in the central coastal province of Binh Thuan. The cooperation will support Vietnam’s green energy transition and commitment to net zero emissions by 2050, the Danish Embassy emphasized in a release.
IPICO is the developer of the 1,070-hectare Son My 1 Industrial Park in Binh Thuan province, starting construction in August 2022 and aiming for completion by 2025.
The facility has already attracted leading global investors such as PVGas, a subsidiary of state-run Petrovietnam, AES (the U.S.), and a consortium of Électricité De France S.A. (France), Sojitz Corporation (Japan), Pacific Corporation JSC (Vietnam), and Kyushu Electric Power Co. Inc. (Japan).
Son My 1 Industrial Park will accommodate two under-drafting LNG-fired power plants, Son My 1 and Son My 2, with a total capacity of 4,500 MW.
A day later, Charge d' Affaires Mette Ekeroth of the Danish embassy and Anders Runevad, chairman of the board at Vestas, had a meeting with Vietnamese Deputy Prime Minister Tran Hong Ha.
Vestas has installed wind power turbines generating 1,400 MW in Vietnam and is looking to continue helping Vietnam become a regional wind power hub with the participation of developers and equipment manufacturers, Runevad said.
In reply, Ha highlighted Vietnam does not restrict renewable energy development for export, hydrogen production, and direct power purchase, and the country welcomes businesses to make practical investments. He also urged the Danish side to aid Vietnam with technology, expertise, and equipment to deploy its renewable energy-focused power development plan VIII (PDP VIII).