March 9 (Renewables Now) – Southeast Asian firm Modern Energy Management (MEM) was picked by an unnamed client as owner’s representative for a 100-MW wind project in Vietnam.
With construction expected to commence during the second quarter of 2022, the wind project has a capital expenditure (CAPEX) estimated at USD 140 million (EUR 118.3m), MEM announced on Monday.
Under the agreement, the management company will also serve as the owner’s engineer for the wind project. MEM will provide technical and commercial support along with overall project management in order to reach the financing for the plant’s construction.
“To deploy investment funds, renewable energy infrastructure investors are increasingly looking to enter earlier in the project lifecycle,” commented Aaron Daniels, managing director of MEM.
At present, Vietnam has 450 MW of operating wind power capacity and is targeting 2,000 GW by 2025 and 6,000 MW by 2030.
(USD 1.0 = EUR 0.845)