In November 2016, Mainstream signed an agreement with local and international developers to develop, build and operate three wind projects with a combined capacity of approximately 940MW. The 800MW Phu Cuong wind farm, a project with an investment injection of approximately US$2bn, will be executed in partnership with GE Energy Financial Services. In addition, the Thai Hoa Wind Farm (83MW) and the Thai Phong Wind Farm (55MW) are located in the Binh Thuan Province in Vietnam, with a combined investment injection of approximately US$200m.
By combining Vietnam’s abundant wind resource with GE technology, know-how and in-country manufacturing capability and Mainstream’s expertise in development, construction and operations, the partners aim to better enable the country to reach its 2020 renewable energy target.
The Asia region is characterised by rapid and significant economic growth, which is driving an equivalent need for increased electricity generation capacity. Compared to other parts of the world, excluding China and India, the region has very little installed wind or solar capacity, representing a substantial opportunity for Mainstream.