In September 2016, Mainstream announced the signing of an agreement with GE Energy Financial Services to develop, build and operate wind powered plants in Vietnam. The aim of the agreement is to compliment the 1GW initiative that GE and the Ministry of Industry and Trade signed in May 2016 to accelerate large-scale Vietnamese wind project build-out.
In May 2017, Mainstream along with GE Renewable Energy and local Vietnamese partner the Phu Cuong Group participated in a ceremony to formalize a US$2bn Joint Development Agreement to develop, build and operate the 800 MW Phu Cuong Wind Farm in the Soc Trang province of Vietnam in May in Washington DC. The deal was one of five agreements valued at more than $5 billion that GE (NYSE: GE) announced to support the development of Vietnam’s energy and aviation sectors during a signing ceremony that was part of Vietnam’s Prime Minister Nguyen Xuan Phuc visit to the United States.
Mainstream opened an office in Hanoi in Q2, 2017 in support of these developments.