Mainstream Renewable Power has announced its receipt of a Decision on Investment and an Investment Registration Certification (IRC) from the provincial government of Soc Trang for the first 200MW of the Phu Cuong Soc Trang Offshore Wind Farm.
The project, once fully complete, will have a capacity of up to 1.4GW. The project is anticipated to reach financial close in 2022, enabling first power to commence as early as 2023. The project has already completed its wind measurement campaign and other site studies, and the procurement process to secure a wind turbine supplier and balance of plant contractor is well advanced. Moving forward, Mainstream will work closely with EVN, Vietnam’s national electricity company, to finalise the grid connection agreement, as well as the project’s Power Purchase Agreement (PPA). The wind farm is a joint venture between Mainstream and its Vietnamese partner the Phu Cuong Group, with Mainstream owning 70% of the asset and the Phu Cuong Group owning the remaining 30%.
