Renewable development consultant, Modern Energy Management (MEM), has been tapped by investors to facilitate wind and solar projects in Myanmar, Vietnam, Indonesia and the Philippines.
Due to the lack of development of renewable projects in this region of Southeast Asia, MEM has been brought in to help develop multi-million projects with a combined value of $560million.
The new wind projects in production will look to have a total capacity of 400MW over a five year period.
During the development of these projects MEM will look to find other potential development sites due to the industry being in its infancy in this region.
Speaking about the company’s approach to initiating projects, Aaron Daniels, Managing Director of MEM said: “Projects have to get through a number of gates that focus on risks and costs before we recommend to investors that they move forward with a broader assessment of the fundamentals. Our focus is not only on finding projects with good resources, but also projects that can be built with cost efficiency.”
Wind farms are being particularly targeted in this region due to the speed with which they can be built and become operational.
However, a large amount of local knowledge of the region will have to be combined with wind energy expertise to ensure the success of these projects.
Aaron Daniels added: “Building wind projects in southeast Asia is complex, and requires a combination of local knowledge and wind farm development expertise. These kinds of projects carry high risks that need an experience team to manage them and ensure investors are able to realise double digit returns.”
Recommended for you
