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Gulf Oil & Gas
Mainstream Renewable Power, the global wind and solar company, has signed an agreement to acquire an 80 per cent shareholding in Technology and Development Joint Stock Company Limited (D&T), which is developing a 405 MW portfolio of solar projects in the Dak Nong province of central Vietnam.
The portfolio of three projects, which is included in the Vietnam Government’s Power Development Plan 7 (PDP 7) has been in development since 2019 and is expected to reach financial close in 2022.
This deal marks the latest indication of Mainstream’s continued role as an enabler of renewable electrification in Vietnam.
It follows the 2020 agreement with Vietnamese partner AIT to develop a 500MW offshore wind project in Ben Tre, and the agreement with Phu Cuong Group to develop the 1,400MW Phu Cuong Soc Trang offshore wind project in 2017.
Mainstream to buy stake in 405MW Vietnamese solar
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April 28, 2021, by Nadja Skopljak
Mainstream Renewable Power and Vietnam’s Department of Foreign Affairs for Provinces have signed a Memorandum of Understanding (MoU) to stage a capacity-building event to increase regional government engagement in the development of offshore wind.
Source: Mainstream Renewable Power
The focus of the event, which is expected to be held in the second half of the year, will be to share industry development knowledge that can unlock Vietnam’s offshore wind potential.
The collaboration comes after the country’s Ministry of Industry and Trade proposed tripling wind power capacity to 18-19 GW by the end of the decade, accounting for 13% of Vietnam’s installed capacity, in its draft Power Development Plan 8 published in February.