Fund Managers (CFM) has announced the start of construction for the Truong
(intertidal) offshore wind farm, located of the coast of Tra Vinh province,
CI1’s Construction Equity Fund has committed USD 71 million to the project
company, Tra Vinh Wind Power Company, which is jointly funded by Korean
energy firm ST International. Turbine manufacturer Vestas will act as Engineering,
Procurement, and Construction (EPC) contractor for the project.
The project will be located less than 2 km from the coast and is expected
produce enough power to meet the demands of 132,500 people. First power
is anticipated by the end of the year.
Andrew Johnstone, Climate Fund Managers CEO, stated: “The beginning
of construction at the Tra Vinh wind farm represents a significant milestone
for Climate Investor One. It is the first large scale development completed
by CI1 in Asia, representing the culmination of two years of hard work,
innovation, and development. The installation has several innovative features,
and is already creating a positive impact at the local level through its
community development programme, both hallmarks of CI1’s value contribution
to the countries it operates in.”
Tommaso Rovatti Studihrad, Vestas Sales Director for South-East Asia said
the following “Partnering with CFM on this ground-breaking project
enforces Vestas’ commitment to lead the wind energy transition and introduce
further clean electricity generation in Vietnam”.
Vietnam has set renewable energy targets, aiming to rise from 0.3% renewable
energy reliance in 2016 to 21% by 2030. In October 2019, Vietnam’s Renewable
Energy Authority (EREA) and the Danish Energy Authority (DEA) agreed to
work together on a Vietnamese offshore wind roadmap, which is to be presented
at a workshop in Hanoi in 2020.
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