AC Energy, partners infusing US$445M investment for wind projects in Vietnam

By Myrna M. Velasco – July 20, 2021, 3:21 PM
from Manila Bulletin

Ayala-led AC Energy Corporation (ACEN) and its project-partners will be injecting US$445 million worth of investments to advance the developments of wind farm projects that will yield aggregate capacity of 440 megawatts.

The Ayala firm said bulk of the targeted capacity had already been under construction and will start beefing up ACEN’s renewable energy (RE) generation capacity this year.

“AC Energy leveraged on Vietnam’s strong wind resource potential, making a strategic pivot to jointly develop wind projects with its partners to invest a total of US$445 million in the country,” the company noted in a statement to the media.

ACEN emphasized that its 252MW Quang Binh wind farm project, which is its partnership with AMI Renewables, has been touted as the largest onshore installation for that RE technology type in Vietnam.

The company indicated “foundation works for 52 out of the 60 turbines are already completed with 14 turbines installed; while the project’s transmission lines are also completed and both substations energized.”

The Quang Binh wind facility “will feature wind turbines at a hub-height of 145 meters to optimize wind energy production,” ACEN said.

Another project development of the Ayala group in that ASEAN neighbor is its ongoing 40MW Mui Ne wind farm, that is sited in Bihn Thuan — and of which construction is reported to be on full swing. This is ACEN’s partnership with The Blue Circle of Singapore.

According to the Ayala energy firm, the facility has a potential for 170MW expansion, hence, the target is to develop two more wind farm projects in the Soc Trang province of Vietnam; and the subsequent ventures will be carried out with long-time investment partner UPC Renewables.

Additionally, the company noted that its 88MW Ninh Thuan wind farm, which is its joint venture with the BIM Group, just had its “foundation pour” completed and at least six turbines had already been fully erected and completed; while the transmission lines that will wheel the plant’s capacity as well as the underpinning substation had already been completed and ready for energization.

As highlighted by AC Energy International Chief Operating Officer Patrice Clausse, “these project milestones happening in Vietnam all make for a really exciting period in our renewables expansion.”

And while ACEN has been keeping its eye on the goal of beefing up its RE capacity to 2,500MW this year, Clausse said the Ayala firm and partners “will continue to develop large-scale developments to support Vietnam’s goal to increase the share of renewables in their energy mix.”

ACEN initially took strides on its RE investment foray in Vietnam via solar farm installations of aggregate 525MW capacity – and those were completed and set on commercial stream in 2019.

AC Energy President and CEO Eric T. Francia vouched that “Vietnam is an ideal place for sustainable investments as it leads the race to clean energy transition in the post-Covid world.”

He qualified that “our partners’ deep market expertise bolster our leadership position in Vietnam as we aim to play a meaningful role in the green-led recovery by building climate resilience and creating jobs.”