Southeast Asia’s leading wind energy developer The Blue Circle has started construction of its Dam Nai project in Ninh Thuan province, Vietnam.
Since being awarded an Investment Certificate for 40 Megawatt in July 2016, The Blue Circle and its Vietnamese Partner TSV have worked on the land compensation process and the engineering of the site.
The project sits along the Highway One and consists of 933 hectares of agricultural land where a 100 metre meteorological mast had been erected by The Blue Circle in May 2015.
The site has one of the best wind resources of South Vietnam and has the potential for a total capacity installed of 70 to 100MW.
After an extensive selection process, The Blue Circle has chosen Gamesa as the exclusive supplier for its Dam Nai 40 Megawatt project. The G114-2.625 MW turbine will be the first Gamesa turbine supplied to Vietnam and the largest wind turbine installed in the country so far.
The turbine supply contract as well as a 10 year maintenance contract has been signed with Gamesa Wind and the first turbines are expected to arrive this summer on site.
The project construction will take place in phases during 2017 and 2018 for a total budget of US$ 58 million.
Building on a relationship initiated in 2014, The Blue Circle received financial support from Armstrong Asset Management’s Clean Energy Fund for the Dam Nai project.
“The Vietnam wind energy target of 4,000 MW installed by 2025 is ambitious but with long term financing it can be turned into reality” stated Olivier Duguet, Chief Executive Officer of The Blue Circle.
“Thanks to our shareholder Armstrong Asset Management’s investment, we are building the first foreign owned wind project in Vietnam and intend to fully participate in the future growth of what could become the largest market for wind power in Southeast Asia” he added.
The Blue Circle has a total portfolio of 1,658 MW of projects under development in 5 countries with offices in Singapore, Bangkok and Ho Chi Minh City. Dam Nai will become its first operating project.
About The Blue Circle
The Blue Circle is a developer of renewable energy projects with a focus on wind power and projects in ASEAN countries. Based in Singapore, the company works to bridge the gap in project development in Southeast Asia by bringing international project development experience and financial expertise together with local market understanding.
Vertically integrated with unique regional wind engineering capabilities, The Blue Circle can identify green field sites, pursue project development milestones up until financing and operating of the generating assets.
More information on The Blue Circle: www.thebluecircle.sg
About Armstrong Asset Management
Armstrong Asset Management is an independent asset manager, based in Singapore, focused on the clean energy sector in Southeast Asia’s emerging markets. Armstrong invests in the development, construction and operation of utility-scale infrastructure projects and currently has an interest in 26 operating projects across Thailand, Philippines and Vietnam.
Managed by a multidisciplinary team of investment professionals, all of whom possess deep sector knowledge and a collective 80 years of Southeast Asia operating experience, Armstrong Asset Management integrates strict environmental, social and governance compliance into its investment process to deliver tangible benefits and reduce risks for all of its stakeholders.
More information on Armstrong Asset Management: www.armstrongam.com
For further information, please contact:
The Blue Circle
Olivier Duguet Tel: +65 62594921
Sustain Ability Showcase Asia (SASA)
Ken Hickson Tel: +65 81397472
Released on behalf of The Blue Circle by: SASA
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