Gulf Energy inks purchase agreement for Vietnam wind farm
The first phase of a 30-megawatt wind farm project in southern Vietnam got a boost on July 17 when a firm controlled by Gulf Energy Development Public Co Ltd reached a 20-year power purchase agreement with Vietnam Electricity.
The Mekong Wind Power Joint Stock Company, with 95 per cent of shares indirectly held by Gulf Energy according to Gulf’s filing to the Stock Exchange of Thailand, operates the Mekong Project comprising a solar farm project of approximately 30 MW and an offshore wind farm of about 310 MW.
The agreed terms include a USD-equivalent tariff of approximately US9.80 cent/kWh.
The Mekong Project is located in Binh Dai district of Ben Tre province in southern Vietnam. The project is expected to proceed in phases, with the first component of about 30 MW to enter commercial operation in 2021. The second phase of approximately 49 MW is also scheduled to begin operating in 2021, and the 231 MW phase three component is expected to come into operation between 2022 and 2023.
Construction of the first phase of the wind farm is to begin in the third quarter of 2019.
