Sept 27, 2021 – UPC Renewables, a leading global developer of renewable energy, and T&T Group, a leading Vietnamese conglomerate in the industrial sector have signed a Memorandum of Understanding to jointly develop and construct 1,500MW of wind power projects across Vietnam.
The parties collectively have 7 wind power projects in Vietnam, totaling nearly 600MW in construction at present and will build upon their experience by collaborating and driving the renewables transition in the country over the coming years.
“The start of this collaboration is happening at an ideal time for both parties. With UPC Renewables long experience in developing wind power projects globally, T&T’s large ambitions in Vietnam, and each of the partners already successfully implementing projects in-country we expect to propel Vietnam’s energy transition forward rapidly.” said Logan Knox, CEO of UPC Renewables Vietnam.
Vietnam has some of the most abundant wind resources in the region and has quickly accelerated its energy transition with nearly 1,000MW of wind power to-date and over 4,000MW in construction. The country’s draft Power Development Plan VIII envisions wind power capacity growing to >11,000MW in just the next four years.
The partnership sees both partners contribute existing development assets and jointly venture into a multitude of provinces and different wind regimes. The agreements were signed and presented in front of the President of Vietnam, Nguyễn Xuân Phúc, during his trip to the United Nations General Assembly
in the United States.