Mainstream Renewable Power Limited (Mainstream), a subsidiary of Norway-based Aker Horizons, and Phu Cuong Group have commenced construction on a 1.4 GW offshore wind farm off the coast of Soc Trang Province in southern Vietnam. The local government of Soc Trang has accepted the project’s investment decision for the first 200 MW increment. The project is currently projected to reach financial close in 2022, with first power expected in 2023.
Site assessment work has been concluded and the companies are currently in the process of awarding a contract for the supply and installation of the wind turbines. Mainstream is also in the process of finalising a grid connection and a power purchase agreement (PPA) with a national electricity company.
In addition, Mainstream has inked a preliminary deal with Advanced Information Technologies Corporation (AIT) to construct a 500 MW wind farm off the coast of Ben Tre Province. The project is scheduled to begin construction in 2023 and commence commercial operations in 2025.