Mainstream secures investment decision for the first phase of 1.4 GW Phu Cuong Soc Trang Offshore Wind Farm

Mainstream Renewable Power has secured a Decision on Investment and an Investment Registration Certification (IRC) from the provincial government of Soc Trang for the first 200 MW of the Phu Cuong Soc Trang Offshore Wind Farm in Vietnam.

Once fully completed, the project will have a capacity of up to 1.4 GW and will generate enough electricity to power over 1.6 million homes, mitigating 1.8 million tonnes of carbon dioxide emissions each year. The project is anticipated to reach a financial close in 2022, enabling the first power to commence as early as 2023. The 200 MW wind farm is a joint venture between Mainstream and its Vietnamese partner the Phu Cuong Group, with Mainstream owning 70% of the asset and the Phu Cuong Group owning the remaining 30%.

The project follows a multi-stage development approach, with 200 MW of capacity set to be delivered in phase 1 and the remaining 1,200 MW to be developed thereafter. It has already completed its wind measurement campaign and other site studies, and the procurement process to secure a wind turbine supplier and balance of plant contractor is well advanced.