German wind farm developer PNE AG has signed a memorandum of understanding with Binh Dinh authorities to develop a $4.6 billion, 2-gigawatt offshore wind power project in the south-central province.
The deal was inked on Monday at a German investment promotion conference in Binh Dinh.
In October 2020, the Binh Dinh People’s Committee allowed PNE to make offshore wind surveys in the districts of Phu Cat and Phu My within 12 months. Markus Lesser, CEO of PNE, handed over the company’s project plans to the provincial administration this April.
The German company proposed developing a 2 GW offshore project with 154-166 wind turbines of both floating and bottom-fixed types. Development will go in three phases, with 700 MW in 2025, another 700 MW in 2026, and the last 600 MW in 2027.
In a meeting with Binh Dinh leaders in mid April, Deputy Minister of Industry and Trade Dang Hoang An had said the ministry supported this project and would create conditions for it to be implemented as scheduled.
Binh Dinh province currently has seven solar power projects with a total capacity of about 530 MW (with 415.5 MW already installed for operation), and four wind power projects with a total capacity of 111 MW (81 MW installed for operation), according to provincial data.
PNE AG says it is active in Germany, Hungary, France, Turkey, the U.S., Latin America, Africa, and the Middle East.