Vietnamese President Tran Dai Quang and his US President Barack Obama witnessed the signing ceremony.
The MOU calls for collaboration in accelerating the development of renewable energy in Vietnam. Accordingly, the ultimate purpose of both parties is to develop a minimum of 1,000MW of new wind farms by 2025. This represents enough energy to power the equivalent of approximately 1.8 million Vietnamese homes.
Under the agreement GE, a US based global corporation with more than 20 years of experience operating in Vietnam, will utilize its global wind development expertise and work with local developers to identify potential projects. Furthermore, GE will support the implementation of Vietnam’s National Target Program through local manufacturing of wind turbine equipment and components at GE’s Hai Phong facility, plus collaboration with other local suppliers.
“Renewable energy development is among the Government’s priorities to resolve energy challenges to meet economic and social development in Vietnam. Sharing a common desire to develop renewable energy infrastructure in Vietnam through this partnership, we highly appreciate GE’s expertise and experience in developing this crucial power resouce to help mitigating the impact to environment and climate change”, said Mr. Dang Huy Cuong, Director General of the General Department of Energy, Ministry of Industry & Trade.
“With GE’s global expertise in manufacturing and investing in wind energy, along with our local experience gained through initial wind projects in Vietnam, we hope to continue cooperating with Vietnamese government and partners to develop renewable energy effectively and sustainably”, said Pham Hong Son, CEO of GE Vietnam.
Vietnam is endowed with great potential wind resources distributed throughout the country. This geographic diversity, and the ability of wind power to work with Vietnam’s extensive hydropower assets, offers Vietnam the potential for very high levels of low cost wind power. The utilization of wind power will play an important role in maintaining the energy flexibility and security of Vietnam in the future, while meeting the increasing power demand arising from the socio-economic development of the country.
Being responsible for one of the broadest and deepest renewable portfolios in the industry, with the largest renewable energy installed base globally of more than 370GW, GE played a key role in the development of Vietnam Mekong Delta’s first wind farm in Bac Lieu province. GE supplied 62 wind turbines, totaling over 99MW of power generation capacity. The first phase of this wind farm connected to the national grid in June 2013.
In 2009, GE increased its investment in the future of Vietnam by establishing a wind-turbine components manufacturing plant in Hai Phong. The facility has created over 600 local jobs and exported thousands of units of generator systems and wind turbine components that contribute to global energy solutions.