September 3 2019 – Modern Energy Management (MEM), a specialist in developing, building and operating investment grade renewable energy projects in emerging markets, announced that it currently advises on over 1.3GW of renewable projects in Vietnam.
This announcement includes providing acquisition due diligence for multiple regional and international confidential clients on a total of five solar, onshore wind, and intertidal wind projects in Vietnam, an aggregate of 650MW. The CAPEX of the five projects that were announced is 700 million USD.
MEM is also the Owner’s Representative on 350MW of wind development projects, of which 200MW are intertidal projects.
“MEM has pre-existing relationships with the clients that appointed us,” stated Aaron Daniels, Managing Director of Modern Energy Management. “Clients select MEM as our footprint in Vietnam is distinctive, making us uniquely suited to advise on risks associated with Vietnam renewable energy projects. They believe in our expertise, market knowledge and professionalism.”
“There is intense competition between investors to deploy capital into Vietnam,” continued Mr. Daniels. “However, the market has risks, particularly in the PPA. Investors need the best possible insight into the market to ensure they have properly considered both risks and mitigation strategies to safeguard their investments.”
MEM’s approach to each project includes a keen eye to reduce risk and improve investor returns, as its team has significant experience developing, building and operating renewable energy projects in SE Asia.
While Vietnam is currently the most active renewable energy market in ASEAN due to its heavy reliance on coal and hydro power, growth of installed wind capacity has slowed due to pricing of electricity generated by wind power and a PPA that is not generally considered suitable for international investors.
“In a market landscape like Vietnam that allows no margin for error for investors,” Mr. Daniels continued, “we excel at finding opportunities to optimize the project technically and commercially, thereby improving project performance.”