Investors

AES Corp Plans to Build a $13 Billion Wind Farm, Says Vietnam

Published on: 1 August 2022 07:00 PM
tinywow webp to jpg 3924757

The U.S.-based energy company AES Corp intends to construct a large offshore wind farm in Vietnam, the Southeast Asian nation announced recently, which could potentially increase the country's wind power capacity.

According to a statement from the Ministry of Industry and Trade, the wind farm, expected to cost $13 billion and with a combined capacity of 4,000 megawatts (MW), would be constructed off the coast of Vietnam's central province of Binh Thuan.

According to state media, the country now has roughly 4,000 MW of wind capacity and plans to construct 11,700 MW by 2030 and 66,000 MW by 2045.

During an annual Vietnam-U.S. energy security meeting in Washington earlier this week, AES submitted a letter of intent to develop the project to a Vietnamese energy delegation, according to the ministry.

Hydrogen, energy storage, and nuclear energy were also discussed during the debate.

Vietnam, a regional industrial hub, pledged to become carbon-neutral by 2050, along with other fossil fuel users, last year.

The ministry requested that future coal-fired power projects with a total capacity of 14,120 MW be removed from a draft national master power development plan.

Source: Reuters

For more investor-related news

Share:
esg
esg
esg
esg