Ayala’s AC Energy Inc. is building up renewable energy investment portfolio in the Vietnamese market with its greenfield 210-megawatt Quang Binh wind farm project.
The Ayala firm said the installation, which it will be undertaking as a joint venture with AMI Renewables, will be the largest that shall ever be developed in the Vietnam energy market on such technology type.
The wind farm venture will be constructed in two phases: the first one will be of 109.2MW capacity; while the next phase will yield 100.8MW capacity.
The 50 wind turbines to be erected will be of the V150-4.2MW model to be supplied by Danish firm Vestas. The hub-height of the turbines will be 145 meters and it is eyed that wind energy production could be maximized on that scale.
By far, that is the second wind farm installation of AC Energy that Vestas will be supporting with supply of turbines – the other one is a 60MW project to be sited at Mekong Delta in Southern Vietnam.
On targeted revenue stream for the facility, AC Energy indicated that development and completion shall be synchronized with the Vietnamese government’s timeframe on the award of the feed-in-tariff (FIT) which is set at 8.50 US cents per kilowatt hour for wind technology. Hence, that warrants commercial operation of the plant in the third quarter of 2021.
As emphasized by the Ayala energy firm, “the record 210MW wind farm is the latest in AC Energy’s string of initiatives to sustain its growth momentum and expand its generation capacity in the Asia Pacific.”
With the company’s excitement on this new venture, AC Energy President and CEO Eric T. Francia noted they will “continue to transition to a low carbon portfolio and work towards our goal of reaching 5,000MW of renewables capacity by 2025.”
Patrice Clausse, chief operating officer of AC Energy International, forthrightly stated that there are “several favorable conditions in Vietnam that ease the acceleration of clean energy development.”
Anchoring project plans on that, he added “the company intends to play a significant role in aiding the country’s surge in power demand.”
Clausse stressed “as an ideal place for investing in renewable energy, wit its ripe market for wind power and notable GDP growth, AC Energy sees Vietnam as a key market as it aims to be the one of the largest listed renewables platforms in Southeast Asia.”
The tie-up of AC Energy and AMI Renewables was firmed up way back in 2017 – and their initial investment forays had been in solar projects for the 50MW Khanh Hoa and the 30MW Dak Lak installations.