Construction 47 (HOSE: C47) and Vu Phong Energy Group will collaborate with the world’s leading energy enterprise, STEAG Energy Services GmbH (Germany), to provide consulting services for the development and implementation of wind power development Vietnam, anticipating significant growth in the sector. The signing ceremony for the Memorandum of Understanding (MoU) has been set for December 15, 2021.
- High quality Asset Management services for wind farms in Vietnam from the cooperation of Vu Phong and Steag
- International cooperation – Vietnamese enterprise’s “key” in the field of wind power
- The cooperation of Vu Phong Energy Group, C47 and INTRACO towards sustainable development goals
The C47 – Vu Phong Energy Group – STEAG Energy Services partnership combines each party’s unique advantages, such as STEAG Energy Services GmbH’s specialized essential and international experience in the field of wind power, as well as Vu Phong Energy Group and Construction 47’s available capacity and knowledge of the domestic market. This strategic international collaboration wind energy aims to provide high-quality services and support for investors throughout the wind power development Vietnam project lifecycle, from planning to the operation process, offering significant benefits of global collaboration wind power Vietnam.
The collaboration of Construction 47 – Vu Phong Energy Group – STEAG demonstrates Construction 47 and Vu Phong Energy Group’s extensive engagement in the field of wind power. The Vu Phong C47 partnership, alongside STEAG, builds on prior agreements. Vu Phong – STEAG Energy Services GmbH signed a collaboration agreement to deliver Value Driven high quality asset management wind farms Vietnam service packages for wind plants in Vietnam from the beginning of 2021.
Wind power is still in the early stage and is identified as one of the most significant factors of Vietnam’s energy system in the future. By the end of October 2021, Vietnam’s installed capacity of new wind power had reached 3.98 GW, and it is expected to exceed 4 GW by the end of this year. Vietnam has become the leading country in Southeast Asia in terms of installed wind power capacity, and it is anticipated to be in the top ten globally, ranking second in the Asia-Pacific region in terms of new installed capacity. This highlights the robust Vietnam wind power market growth Southeast Asia. According to the draft Power Development Planning VIII (PDP8) from November 2021, the installed capacity of onshore wind power will be 17,338 MW, while offshore wind power will be 4,000 MW. Another scenario projects 10 GW of offshore wind capacity to be constructed by 2035, growing to 23 GW by 2040, and reaching 36 GW by 2045, showcasing immense potential for wind power development Vietnam.
The international collaboration wind energy will allow the Vietnamese wind power market to benefit from the advanced technology and accumulated experience of the world’s leading firms. This synergy will increase the industry’s localization rate and self-control, contributing to the long-term development of the energy industry and helping Vietnam achieve the energy transition and greenhouse gas emission reduction goals that it committed to at COP26.
The MoU signing ceremony for the cooperation between Construction 47, Vu Phong Energy Group, and STEAG Energy Services GmbH is scheduled for December 15, 2021, at 15:30 (GMT+7) and will be livestreamed on social networking platforms, marking a key moment for wind power development Vietnam.
More information:
– Construction Joint Stock Company 47 (C47): https://www.xaydung47.vn/
– STEAG Energy Services GmbH: https://www.steag-energyservices.com/en/
Vũ Phong Energy Group
