Gulf Energy Development signs PPA with Vietnam Electricity for Mekong Project Phase I

Thai power producer Gulf Energy Development PCL has signed a 20-year power purchase agreement (PPA) deal with Vietnam Electricity for the Phase I of the Mekong Project, a solar and offshore wind project. 

The development of Mekong Project involves a 30 MW Phase 1 solar project and 310 MW offshore wind farm. The Phase II and Phase III are the 49 MW and the 231 MW offshore wind projects. The Mekong Project is developed in Ninh Thuan province and Binh Thuan province in Vietnam. 

Vietnam Electricity will purchase the energy produced by the Phase I project for US$0.098 per kWh. The Phase I project is expected to be operational by 2021, while the Phase II and Phase II are expected to be completed by 2022 and 2023.