The Ministry of Industry and Trade (MoIT) and General Electric (GE) yesterday in Hà Nội signed a Memorandum of Understanding to accelerate the development of renewable energy in Việt Nam.— Photo GE

HÀ NỘI — The Ministry of Industry and Trade (MoIT) and General Electric (GE) yesterday in Hà Nội signed a Memorandum of Understanding to accelerate the development of renewable energy in Việt Nam.

Accordingly, the two parties aimed to develop a minimum of 1,000MW of new wind farms by 2025. The farms are expected to ensure energy to approximately 1.8 million Vietnamese homes.

Vietnamese President Trần Đại Quang and United States President Barack Obama witnessed the signing ceremony.

Under the agreement, the US-based global power corporation would utilise its global wind development expertise and work with domestic developers to identify potential projects. GE would support the implementation of Việt Nam’s national target programme through the local manufacturing of wind turbine equipment and components.

Speaking at the signing ceremony, Đặng Huy Cường, director general of the MoIT’s General Department of Energy, said the Vietnamese government has accorded priority to renewable energy development to resolve the energy challenges for socio-economic development.

Việt Nam has a lot of potential for wind power development including geographic diversity, and extensive hydropower assets.

The development of wind power would play an important role in maintaining energy flexibility and security of Viet Nam in the future.

GE played a key role in the development of Viet Nam Mekong Delta’s first wind farm in Bac Lieu Province. GE supplied 62 wind turbines, totalling more than 99MW of power generation capacity. The first phase of this wind farm connected to the national grid in June 2013.

In 2009, GE established a wind-turbine components manufacturing plant in northern Hai Phong Port City. The facility has created over 600 local jobs and exported thousands of units of generator systems and wind turbine components that contribute to global energy solutions.

GE Vietnam currently employs more than 900 people and offers products and services in the power, energy connections, renewable energy, oil and gas, healthcare and aviation sectors.

Jeffrey R. Immelt, GE’s CEO said they wanted to contribute in key areas such as healthcare and aviation in Viet Nam. — VNS