The MOU signing ceremony between C47 – Vu Phong – Steag for the wind energy development in Vietnam

On December 15, 2021, Construction Joint Stock Company 47 (HOSE: C47), Vu Phong Energy Group, and STEAG Energy Services GmbH (Germany) signed the Memorandum of Understanding (MoU) to provide consulting services for the development and implementation of wind power projects in Vietnam.

The signing ceremony took place when Vietnam actively promoted structural energy industry transformation and implemented promises to reduce greenhouse gas emissions to achieve net-zero emissions by 2050. The wind energy market is still in its early stage, but it has a lot of room to grow. It has been regarded as one of Vietnam’s energy system’s most critical future variables.

According to the signing agreement, C47, Vu Phong Energy Group, and STEAG will collaborate to provide consulting services for the development and implementation of wind energy projects based on the strengths on each side.

STEAG provides wind power investors with the knowledge of a world-leading unit in technical services and project development consultation, with extensive experience in Europe and Asia. STEAG also has a high technology platform that provides digital solutions to the wind energy industry

C47 has developed many large-scale irrigations, hydroelectric power projects, and significant national projects with its outstanding construction capabilities. C47 is also the construction unit for the 1,200 MW Bac Ai pumped-storage hydroelectric power project, Vietnam’s first pumped-storage hydropower project, and Southeast Asia’s largest pumped-storage hydropower project.

Vu Phong Energy Group has expertise and experience in the Vietnamese renewable energy sector, is trusted and recognized by many investors as an EPC general contractor, and provides operation and maintenance services for renewable energy plants and research and manufacturing industrial equipment. Vu Phong Energy Group has won many awards in the energy industry. Frist is The Solar Future Awards 2021, and the Second is the Asian Power Awards 2021, which is the major award in the Asian energy field and the only representation of Vietnam that received the award this year.

In addition to jointly providing consulting services for the development and implementation of wind power plants in Vietnam and supporting investors throughout the project development process, C47 – Vu Phong – STEAG aims to participate in partial investment in wind power projects in Vietnam.

The MOU signing ceremony of C47 – Vu Phong – STEAG has many guests from the local and international renewable energy community

Mr. Phong, Pham Nam, Chairman of the Board of Directors (BoD) of C47 and also the Chairman of BoD of Vu Phong Energy Group, asserted the cooperation signing ceremony of C47 – Vu Phong – STEAG has a very important meaning because it marks C47’s participation in the field of wind power. Mr. Phong strongly believes in this tripartite international collaboration. “I believe that with the collaboration of C47 – Vu Phong – STEAG, the three companies will offer a lot of value to the wind power industry in Vietnam, 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” – Mr. Phong shared.

STEAG is hopeful about the future of Vietnam’s wind power industry and believes that the C47 – Vu Phong – STEAG collaboration partnership will positively contribute to the industry’s growth by providing in-depth consulting, high-quality technical services and invaluable experiences… finest assistance for wind power investors in Vietnam.

Vu Phong and STEAG signed a collaboration agreement in early 2021 to jointly provide Asset Management service packages to help optimize wind power plant production potential and maximize value assets and profits for investors.

MORE INFORMATION

Construction Joint Stock Company 47 (C47) is a leading enterprise in the construction industry of irrigation, hydropower, civil and industrial works throughout the country. Over the course of 46 years of establishment and development, C47 has gradually mastered the construction technology of irrigation, hydropower, civil and industrial works throughout the country, was also the first to implement new technologies such as roller compacted concrete (RCC), tunneling technology using TBM Tunneling Robot (more than 15km has been implemented), and so on, with many key projects worth trillion dong, which were highly valued by investors and agencies. In the last 15 years, the company has completed more than 30 irrigation and hydropower projects across the country worth more than 20,000 billion VND. Furthermore, the company also expands its lines of business into other industries such as restaurants, hotels, travel, tourism; overhaul of construction motorcycles, production of mechanical engineering products, production of fresh concrete and precast concrete components; training and labor export; electricity production; testing the mechanical strength of structural concrete, exploiting and transporting construction materials…

STEAG Energy Services GmbH (a subsidiary of STEAG GmbH), headquartered in Essen, Germany, provides a wide range of services for power farms, including project development planning, construction implementation to factory operation. STEAG Energy Services GmbH has provided engineering and technology services, and intelligent software, for over 100,000 MW of various energy projects, including O&M and operations management for more than 11,000 MW.

In the wind power industry, STEAG specializes in delivering O&M technical services, Asset Management, and project development consultancy to investors. STEAG develops, owns, and operates its own wind farms in Europe. STEAG is in charge of everything from O&M to management and consultancy for more than 8 GW of  wind power across the world. STEAG has extensive experience in providing development consulting services for many wind power plant projects, particularly in Asia, including post-production support, technical evaluation, and optimization after the project has come into operation.

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