• Outside of the Philippines, Vietnam is ACEN’s largest market to date
• Three wind projects with aggregate 380 MW capacity now operational
• Over 1,000 MW of renewable energy projects in operation and under construction
• Landmark projects allow ACEN to lead the renewables revolution in Asia Pacific
January 18, 2022 – Transformational partnerships proved to be key to ACEN’s rapid renewables footprint expansion in Vietnam as the listed energy platform of the Ayala Group successfully switched on three new wind farms with over 380 MW of renewables capacity in 2021.
Leveraging on Vietnam’s strong wind resource potential, ACEN jointly developed wind projects with its partners in the country, whose impressive renewables growth remained unaffected by the pandemic. The projects, some of the most notable developments in Vietnam to date, aim to contribute to the country’s clean energy supply.
The 88 MW Ninh Thuan wind farm in South Central Vietnam commenced operations in September 2021 and is the second partnership between ACEN and the BIM Group. It is expected to produce 327 GWH per year, enough to power around 136,000 homes with renewable energy and help avoid 298,551 tonnes of CO2 annually.
The 252 MW Quang Binh wind farm, a collaboration with AMI Renewables in the North Central Vietnam, began commercial operations in October 2021. As one of the largest wind farms in Vietnam, it can produce around 648 GWh of renewable energy per year, enough to power 270,000 homes and help avoid 580,000 tons of CO2 annually. It also features wind turbines at a hub height of 145 meters.
In the same month, ACEN and partner, The Blue Circle, also switched on the 40 MW Mui Ne Phase 2 wind farm in Binh Thuan Province, South Vietnam. The wind farm features turbines that carry the largest rotor diameter for an onshore wind project in Asia at 158 meters, and are the first to use blades in two pieces assembled on site. This technology boosts efficiency and lower the cost of energy. Mui Ne wind farm is expected to avoid approximately 130,000 metric tons of CO2 emissions annually.
“We are pleased with the rapid progress that we have seen in our Vietnam projects. Powering three energy plants in 2021 was a significant accomplishment that we could not have achieved without the collaboration with our partners and strong support from the government of Vietnam,” said ACEN President & CEO Eric Francia. “We will continue to actively participate in the green-led recovery and deliver on our Net Zero aspirations.”
“We are deeply grateful to our partners at BIM Group, AMI Renewables, and The Blue Circle. We commend all teams involved, particularly ACEN’s Vietnam team, for achieving such a feat given the unexpected and unpredictable covid conditions in 2021,” said Patrice Clausse, Head of ACEN’s International Group. “We are proud to support Vietnam in its goal to increase its renewables capacity and eliminate the country’s greenhouse gas emissions at the soonest time possible.”
Of ACEN’s six renewable energy projects in Vietnam, five are operational while the 60 MW Lac Hoa & Hoa Dong Wind in Soc Trang is expected to come online by Q1 2022. The wind project is a collaboration with partner UPC Renewables and will feature the tallest wind turbines in the country to date at a record hub height of 162 meters.
In the race against time and climate change, ACEN remains committed to help Vietnam reduce its dependency on fossil fuel and fossil imports and forge a cleaner, more affordable, and more dependable energy pathway. According to Nikkei Asia, Vietnam’s power demand is expected to reach 96 GW by 2025 as it becomes increasingly industrialized, and the rising middle class drives construction and consumption. Vietnam, which is among the countries most vulnerable to climate change, requires reliable power to support its national progress. By increasing its renewable energy sources, Vietnam could very well achieve its economic goals at net zero emissions by 2050.
Similarly, in October 2021, ACEN declared its commitment to Net Zero by 2050 along with the rest of the Ayala group. The company has over 3,000 MW of attributable capacity across Asia Pacific, with 18,000 MW in its pipeline of renewables projects being developed organically and with its various partners across the region. An estimated 500 MW of these projects are expected to reach financial close by Q1 2022.
ACEN is on track to become the largest listed renewables platform in Southeast Asia with 5,000 MW of renewables capacity by 2025.