Mekong Offshore Wind Farm Phase I

active

The project involves the development and construction of phase I of wind farm part of the Mekong Project, located in located in Binh Dai district, Ben Tre province, southern Vietnam. The entire Mekong Project includes a solar farm (approximately 30MW) and an offshore wind farm (approximately 310MW). The wind farm will be developed in phases: phase I of approximately 30MW and commercial operation date in 2021; phase II of approximately 49MW with commercial operation date in 2021; and phase III of approximately 231MW with commercial operation date between 2022 and 2023. The wind farm project phase I has entered into 20-year power purchase agreement with Vietnam Electricity on 17 July 2019 under agreed terms of a USD-equivalent tariff of approximately $9.80 cent/kWh. The sponsor is Gulf Energy Development Public Company Limited and SPV is Mekong Wind Power JSC. Gulf Energy holds a 95% stake in the SPV via Gulf International Holding Pte. Ltd. TTC Group holds remaining 5%. The cost of the all phases of the wind project is estimated at $ 618 million; however it is not disclosed how much will be spent on phase I only. Substation work started since July 2019. https://gulf.listedcompany.com/newsroom/220720190802510694E.pdf https://gulf.listedcompany.com/newsroom/131120191904250591E.pdf