Mainstream Renewable Power will build and operate projects in Vietnam worth more than $2.2billion as the country looks for new energy sources to help meet soaring demand.
Vietnam’s electricity demand is expected to grow 10.6% annually in the next five years, according to its trade ministry.
The three windfarms would generate an annual total of 940megawatts (MW) of power, Mainstream said.
It added that it would partner with GE ENergy Financial Services and firm Phu Cuong Group in its main Vietnam project.
The project is worth $2billion.
The first phase of the project, for 150-200 MW is expected to reach financial close in 2018.
Mainstream will also separately partner Vietnam’s Pacific Corporation in two other projects in the southern province of Binh Thuan.
The projects will a have a combined 138MW in capacity and $200million in investment.
The first phase of these projects is also likely to reach financial close in 2018.