Emerging market specialist appointed to close out construction on intertidal wind farm
Ho Chi Minh City, 29 June 2021 – Modern Energy Management (MEM), a specialist in developing, building and operating investment grade renewable energy projects in emerging markets, announced that it has been appointed the Owner’s Representative for Climate Investor One (CIO) and ST International (STI) to initiate commercial operations on their flagship Vietnam project: the Tra Vinh Wind Power (TWPC) 48MW intertidal wind farm.
Climate Investor One is a blended finance facility delivering renewable energy infrastructure projects in emerging markets, and has been developing this project since 2017.
ST International is a South Korean energy company that is expanding its renewable energy project footprint. TWPC is their first investment in Vietnam.
MEM’s scope on the project was comprehensive. It began with overall project management for the development of the intertidal wind farm, followed by technical and design support, and managing the tender for EPC services to include technical support during the contract negotiations. MEM will now close out the project construction and initiate commercial operations on behalf of the owners.
“Our relationship with Modern Energy Management on this project was very productive,” said Nathan Schmidt, Head of Asia for CIO. “We initially chose MEM for their wind project development expertise in the Vietnamese wind market, especially as it related to intertidal projects, and are excited to continue that relationship by appointing them as our Owner’s Representative for TWPC’s commencement of commercial operations.”
“Intertidal wind projects like TWPC are technically complex and present unique challenges and risks,” said Lars Lund, MEM’s Project Director, “MEM is one of the few firms in the market with the experience to design and build for construction in these conditions.”
“Modern Energy is a leader with our expertise in the Vietnam wind market, especially intertidal wind projects,” Lars Lund continued. “TWPC is expected to begin commercial operations prior to 01 November 2021, making it one of the first intertidal wind projects to achieve commercial operations under the current FiT scheme in Vietnam.”
Power demands are expected to double between 2020 and 2030 in Vietnam. While the current Feed-in-Tariff (FiT) set to gradually decrease after 01 November 2021, Vietnam is targeting to have an installed capacity of 6GW of wind renewable energy by 2030. MEM supports investors of land based and intertidal wind projects in Vietnam with a current estimated capacity of over 1.5GW.
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About Modern Energy Management
Modern Energy Management (MEM) is more than a technical advisory firm. Advising on commercial, financial, and project risk management, the firm enables investors to successfully develop, construct and operate investment grade projects in emerging markets.
This is accomplished by offering world-class renewable energy expertise with emerging market experience. MEM is also unique in its confidence of services provided, truly partnering with select clients by sharing project risk and “putting skin in the game”.
Based in Bangkok, Singapore, and Vietnam, MEM is currently managing development, construction and operations of wind and solar projects throughout ASEAN and central Asia.
For more information, please visit: http://modernenergy.management