New Wind Farm Projects in Vietnam
After the recent equity acquisition in an Australian renewable energy firm, the joint venture of AC Energy of the Ayala Group and Hong-King based UPC Renewables will be stepping up for two new wind farm projects in Vietnam. The Ayala firm announced that the two wind project installations, sited along the Mekong Delta in southern Vietnam, will have an aggregate capacity of 60 megawatts.
The wind power facilities are targeted to reach commercial commissioning in the third quarter of 2021, so it could be aptly timed to avail of the 8.5 US cents per kilowatt hour feed-in-tariff being offered by the Vietnamese government for such RE technology developments. “The project will utilize wind turbines from Vestas delivered in different power ratings with site-specific towers for both projects,” said the Ayala energy firm. As emphasized, AC energy will have 50 percent voting stake in the two projects and will be carried out by its wholly own subsidiary AC Energy Vietnam Investments 2 Pte. Ltd.
Continuing the Investment Journey
The AC Energy-UPC Renewables partnership for the wind farm project in Vietnam is the continuation of their investment journeys that started in the Philippines via the 81 MW wind farm project in Pagudpud, Ilocos, Norte. It was also incentivized with FIT previously dangled by the Philippine government and was followed by another joint venture wind project of 75 MW in Indonesia.
Brian Caffyn, Chairman and Chief Executive Officer of UPC Renewables said that via this reinforced partnership with Ayala company, “We look forward to building these innovative projects in Vietnam as our first projects in the country. The synergies between UPC Renewables and AC Energy continue to allow us to advance innovative and challenging renewable energy projects in the Asia Pacific region and we look forward to working with AC energy again to advance wind energy in Vietnam.”
