HÀ NỘI — Singapore-based Enterprize Energy and Renewable Energy Global Solutions (REGS) on Thursday signed a Memorandum of Understanding with Petroleum Equipment Assembly & Metal Structure JSC (PVC-MS) and Vietsovpetro (VSP) to develop a wind power project off the coast of southern Việt Nam.

The companies will collaborate to develop the technical specifications for the design, development, construction and operation of the multi-phased project, which has a capacity of 1200MW and total investment of US$3.5 billion.

The first phase, from 2018 – 2012, is expected to generate 600MW and the second phase, from 2021-2023 will generate another 600MW.

Speaking at the signing ceremony, Chairman and Founding Director of Enterprize Energy Ian Hatton said the time was right for the project as Việt Nam has shown a clear determination to meet its growing energy demand with low-carbon and renewable resources.

 “It is my belief that these developments will have the highest local content level of any offshore wind farm, which means not only energy for Việt Nam, but also a major contribution to Vietnam’s economy, sustaining existing employment in fabrication yards and creating new, long-term employment opportunities in operations and maintenance,” he said.

Enterprize Energy is in a joint venture with Renewable Energy Global Solutions, another Singaporean company whose project management team has extensive previous experience with the engineering design and deliveries of many of the oil and gas production facilities in Việt Nam’s offshore jurisdiction and across the world.

Leonard Yeo, managing director of REGS, said: “We will be working closely with PVC-MS/VSP contributing our experience in offshore structure design and logistics optimisation and localisation in order to lower the cost of energy from offshore wind to meet Vietnam’s stringent energy cost requirements”.

Phạm Tất Thành, managing director of PVC-MS, said the company is committed to closely cooperate with VSP and the investors to implement the project with the highest responsibility. — VNS