General Electric Co will cooperate with British realty firm HBRE to provide technology and turbines for a multimillion-dollar wind farm project the latter will start developing in Vietnam’s Central Highlands next year, the American industrial giant announced Wednesday.
GE and HBRE, fully known as Hamilton Bradshaw Real Estate, on Tuesday signed a memorandum of understanding for cooperation in developing the Tay Nguyen Wind Farm in Dak Lak Province, the U.S. firm said on its website.
The MoU between GE and HBRE on the Tay Nguyen wind power project will allow GE technology to be utilized in a joint effort to develop economic and renewable energy in Vietnam.
According to the document, GE will help HBRE to undertake wind engineering analyses, analyze the site layout, and assess constructability.
The Tay Nguyen project is located in Ea H’Leo District, which has high potential for wind energy. The locality has an average wind speed of 7.6 meters per second, according to GE.
The wind park will be developed by an HBRE unit, HBRE Wind Power Co Ltd, which is responsible for its design, construction, and operation.
Construction work will begin on the project, estimated to cost VND5 trillion (US$235.34 million) in the third quarter of 2015, HBRE Vietnam said on its website. The facility will have a capacity of 120MW upon completion.
London-based HBRE operates in a wide variety of fields, from finance and property management to investment advisory and sustainable energy.
In the meantime, GE will provide wind turbine generators for the site conditions. It will also support HBRE in developing electrical design concepts and facilitating discussions on financial arrangements, as well as working with relevant agencies to move the project forward, according to the American firm.
“The cooperation with HBRE on the Tay Nguyen project builds from our accomplishment of providing 52 wind turbines to the Bac Lieu [a southern Vietnamese province] wind power plant last December,” said chief executive officer of GE Vietnam & Cambodia Nguyen My Lan at the MoU signing ceremony.
The cooperation clearly demonstrates GE’s continuous commitment to support the development of the local community as well as to contribute to the development of renewable energy in Vietnam, Lan added.
HBRE Vietnam chairman Ho Ta Tin expressed his belief that the collaboration with GE will be successful.
“This project will contribute to the improvement of social and economic conditions in Dak Lak by creating hundreds of jobs that require technical and industrial skills, while contributing additional power to the national grid,” Tin said.
“We also hope this project will help attract further investment to Dak Lak and provide momentum to move forward with wind power development in the region and in Vietnam.”
In 1993, GE was one of the first American companies to establish a presence in Vietnam before the U.S. embargo was lifted a year later.
In 2009, GE opened a factory to support its wind division in the northern port city of Hai Phong. Last year, the American company increased its total investment in the factory to $110 million, up from an initial amount of $50 million, to expand its production capability to meet global demand.
The facility has generated over 600 local jobs and exported thousands of wind turbine generators and other energy equipment to GE’s manufacturing and service centers around the globe.
With an installed capacity of more than 2,000 megawatts in Vietnam, GE equipment today supplies approximately 10 percent of the Southeast Asian country’s power.
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