The Republic of Korea (RoK)'s Doosan Heavy Industries and Construction Co. will shake hands with Electricity of Vietnam (EVN) to develop an offshore wind farm project as the Korean corporation’s first foray into the overseas offshore wind power generation market.
The two parties signed an agreement to develop the project on March 23, according to newswire Pulsenews.
Under the initial agreement, Doosan Heavy Industries & Construction will supply wind power equipment, including energy storage systems in the form of engineering, procurement, and construction for a 3MW wind farm.
Doosan Heavy will also be in charge of the operation and maintenance along with Korea South-East Power Co., while EVN will be responsible for securing the test site and providing support to gain project-related licences and approval.
Doosan Heavy also signed an agreement with Vietnam’s Construction Corporation No.1 for a wind power development project. Doosan Heavy is hoping to supply major equipment to CC1 for two projects in a wind power complex in the southern province of Binh Thuan and take charge of operations and maintenance. CC1 has obtained business licences for wind power projects totaling 105MW in capacity.
Vietnam stands out among Southeast Asian peers in the transition to clean fuel sourcing. The Vietnamese government plans to increase its wind power capacity from the current 180MW to 6,000MW by 2030.
Doosan Heavy has also been expanding its wind power business in recent years. In 2011, it developed a 3MW level wind power plant model and it is also expected to commercialise a 5.5MW offshore wind power technology. In September last year, the company also built the country’s largest offshore wind farm in Tamra off the western coast of Jeju Island.
In June 2017, Doosan Heavy Industries & Construction signed a memorandum of understanding (MoU) with its five partners at its Vietnamese operation Doosan Heavy Industries Vietnam Co. (Doosan Vina) to help them enter the Vietnamese market.
Accordingly, it will provide consultancy services on administration, financial management, and business management to support its partners to establish their subsidiaries or manufacturing facilities at the site of the Doosan Vina plant.