Climate Fund Managers (CFM), the manager of the Climate Investor One (CI1) facility, has announced the notice to proceed for the construction of the 78 MW Hiep Thanh nearshore wind farm project located 1-3 km off the coast in Tra Vinh province Vietnam.
CI1’s Construction Equity Fund is investing US$ 71.2 million for the construction of the project, which will be the second project developed and funded in collaboration with Korean energy firm ST International. The joint venture leverages CI1’s innovative end to end financing solution with ST International’s extensive knowledge of the Asian energy market.
CI1 and ST International are joined by local partners in developing the project, Ecotech and Janakuasa. The local partners have an established track record in developing power projects in Vietnam and will enhance the execution and implementation capabilities of the development.
Siemens Gamesa formed a consortium with PowerChina Huadong Engineering Co., Ltd., the leading engineering and construction company in China’s offshore wind power industry, to deliver an Engineering, Procurement and Construction (EPC) offering to the customer.
The wind farm will feature 18 units of the SG 5.0-145 turbine. Commissioning of the wind farm is expected in the third quarter of 2021. Siemens Gamesa also signed a long-term 10-year contract to provide operation and maintenance services.
