AC Energy further expands renewables footprint with biggest wind farm in Vietnam

Ayala Corporation’s power generation arm, AC Energy, marks another milestone in its renewables expansion in the region with the construction of the largest wind farm in Vietnam to date.  The Quang Binh Wind Farm will have an aggregate capacity of 210 MW, bringing AC Energy’s total renewables capacity to 1,200 MW.

Located in the coastal area of the Quang Binh province, the wind farm is AC Energy’s latest project with AMI Renewables.  The project has two phases consisting of 109.2 MW and 100.8 MW, with firm orders already having been issued to the wind turbine supplier for both phases. With the aim of qualifying for the current round for wind feed-in-tariff of 8.50 US cents per kWh, the project is set be commissioned in the third quarter of 2021.

The record 210 MW wind farm is the latest in AC Energy’s string of initiatives to sustain its growth momentum and expand its generation capacity in the Asia-Pacific.

“We are excited to embark on what would be the largest wind project for Vietnam as well as for AC Energy,” said Eric Francia, AC Energy President and CEO. “We continue to transition to a low carbon portfolio, and work towards our goal of reaching 5,000 MW of renewables capacity by 2025.”

With several favorable conditions in Vietnam that ease the acceleration of clean energy development, Patrice Clausse, Chief Operating Officer of AC Energy International, said the company intends to play a significant role in aiding the country’s surge in power demand. “As an ideal place for investing in renewable energy, with its ripe market for wind power and notable GDP growth, AC Energy sees Vietnam as a key market as it aims to be the one of the largest listed renewables platforms in Southeast Asia.”

The project will utilize wind turbines from Vestas, who will supply, transport, install and commission a total of 50 V150-4.2 MW wind turbines at a hub-height of 145m to optimize the wind energy production. AC Energy will be providing all the construction capital required for this project.

“I would like to thank AMI AC Renewables for their continued trust and confidence by awarding us with both phases of this project,” said Clive Turton, President of Vestas Asia Pacific. “Vestas is excited to be part of the Quang Binh Province’s growing ambition to develop its wind power potential”.

In 2017, AC Energy and AMI Renewables formed a platform company, AMI AC Renewables, to build renewable energy plants in Vietnam. In April 2019, AC Energy and AMI Renewables switched on two solar plants, the 50 MW Khanh Hoa and the 30 MW Dak Lak solar farms. AMI AC Renewables targets to develop and operate a renewable energy platform in Vietnam with a total capacity of 1,000 MW by 2025.

Nguyen Nam Thang, Chairman of AMI Renewables, said, “The Quang Binh Wind Farm is an important milestone in the strategic plan execution of AMI AC Renewables. We are happy to see our fruitful partnership with AC Energy contribute to Vietnam’s energy development, which is essential to economic growth and improvement of quality of life.”

AC Energy has committed to scale up its renewable energy expansion in the region and has identified the Philippines, Indonesia, Vietnam, Australia, India and Myanmar as key target markets.