On December 15, 2021, Construction Joint Stock Company 47 (HOSE: C47), Vu Phong Energy Group, and STEAG Energy Services GmbH (Germany) officially signed a Memorandum of Understanding (MoU). This strategic agreement outlines their collaboration to provide consulting services for wind power projects Vietnam, focusing on the development and implementation of such projects across the country.
The signing ceremony occurred at a pivotal moment when Vietnam is actively pursuing a structural transformation of its energy industry and working towards commitments to reduce greenhouse gas emissions, aiming for net-zero emissions by 2050. The market for wind power in Vietnam, though still in its nascent stages, holds substantial growth potential and is widely recognized as a critical factor in the nation’s future energy landscape.
The tripartite agreement establishes a framework for C47, Vu Phong Energy Group, and STEAG to leverage their individual strengths in providing comprehensive consulting services for wind power projects Vietnam. This includes both development and implementation phases for wind energy development across the country.
STEAG Energy Services GmbH brings to the partnership its world-leading expertise in technical services and project development consultation for wind power investors, with extensive operational experience garnered across Europe and Asia. STEAG is also distinguished by its advanced technology platform, which delivers cutting-edge digital solutions tailored for the wind energy industry.
Construction Joint Stock Company 47 (C47) contributes formidable construction capabilities, evidenced by its successful execution of numerous large-scale irrigation and hydroelectric power projects, including critical national initiatives. Notably, C47 is the construction contractor for the 1,200 MW Bac Ai pumped-storage hydroelectric power project, Vietnam’s pioneering pumped-storage hydropower facility and Southeast Asia’s largest. This expertise is invaluable for the physical implementation of wind power Vietnam projects.
Vu Phong Energy Group offers deep knowledge and extensive experience within the Vietnamese Vietnam renewable energy sector. The group is highly regarded by investors as a trusted EPC general contractor and a provider of operation and maintenance services for renewable energy plants. Furthermore, Vu Phong Energy Group excels in research and manufacturing of industrial equipment for the sector. Its commitment to excellence has been recognized with prestigious accolades, including The Solar Future Awards 2021 and the Asian Power Awards 2021, where it was the sole representative from Vietnam to receive this major award in the Asian energy field that year.
Beyond jointly offering consulting services for wind power projects Vietnam and supporting investors throughout the project lifecycle, the C47 Vu Phong STEAG collaboration wind energy partnership also aims to engage in partial investment in these crucial wind power projects in Vietnam.
The MOU signing ceremony of C47 – Vu Phong – STEAG gathered many guests from the local and international renewable energy community.
Mr. Pham Nam Phong, Chairman of the Board of Directors (BoD) of C47 and also the Chairman of BoD of Vu Phong Energy Group, underscored the profound significance of the MOU signing C47 Vu Phong STEAG. He highlighted that it marks C47’s strategic entry into the wind power sector. Mr. Phong expressed strong confidence in this tripartite international collaboration. He stated, “I believe that with the collaboration of C47 – Vu Phong – STEAG, the three companies will offer substantial value to the wind power Vietnam industry, accompanying wind power investors to jointly construct high-quality clean energy projects, contributing to the sustainable growth of the energy industry, reducing greenhouse gas emissions, as committed by Vietnam and other nations at the recent COP26 conference.” This partnership aims to bolster sustainable wind power development Vietnam and align with Vietnam’s net-zero emissions wind power goals.
STEAG maintains an optimistic outlook regarding the future of Vietnam’s wind power industry. The company firmly believes that the C47 Vu Phong STEAG collaboration wind energy partnership will make a significant positive contribution to the industry’s growth by offering in-depth consulting, high-quality technical services, invaluable experiences, and ultimately, the finest assistance for wind power investors in Vietnam. This synergy will further accelerate the development of wind energy to achieve its 2050 goals, as detailed in discussions around wind energy development accelerate 2050 goals.
Earlier in 2021, Vu Phong and STEAG had already established a collaboration agreement to jointly provide comprehensive Asset Management service packages. These services are designed to help optimize the production potential of wind power plants, thereby maximizing asset value and profits for investors.
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Construction Joint Stock Company 47 (C47) is a leading enterprise in the construction industry, specializing in irrigation, hydropower, civil, and industrial works nationwide. With over 46 years of establishment and development, C47 has progressively mastered construction technology across these sectors and was among the first to implement advanced technologies such as roller compacted concrete (RCC) and tunneling technology using TBM Tunneling Robot (completing over 15km). The company has successfully delivered numerous key projects, valued at trillions of VND, earning high praise from investors and agencies. Over the past 15 years, C47 has completed more than 30 irrigation and hydropower projects across the country, totaling over 20,000 billion VND. Furthermore, C47 has diversified its business into other industries, including restaurants, hotels, travel and tourism, overhaul of construction motorcycles, production of mechanical engineering products, production of fresh concrete and precast concrete components, training and labor export, electricity production, mechanical strength testing of structural concrete, and the exploitation and transportation of construction materials.
STEAG Energy Services GmbH (a subsidiary of STEAG GmbH), headquartered in Essen, Germany, provides an extensive range of services for power plants. These services span from project development planning and construction implementation to ongoing factory operation. STEAG Energy Services GmbH has provided engineering and technology services, along with intelligent software solutions, for over 100,000 MW of various energy projects, and manages O&M and operations for more than 11,000 MW globally.
In the wind power industry, STEAG specializes in delivering O&M technical services, Asset Management, and project development consultancy to investors. STEAG also develops, owns, and operates its own wind farms in Europe. Globally, STEAG is responsible for O&M, management, and consultancy for over 8 GW of wind power. The company possesses extensive experience in providing development consulting services for numerous wind power plant projects, particularly in Asia, including post-production support, technical evaluation, and optimization once projects are operational.
Read more:
- High quality Asset Management services for wind farms in Vietnam from the cooperation of Vu Phong and Steag
- Check it out: 3 Asset Management packages add value to wind farms
- The cooperation of Vu Phong Energy Group, C47 and INTRACO towards sustainable development goals
- International cooperation – Vietnamese enterprise’s “key” in the field of wind power
Vũ Phong Energy Group
