Gulf Energy inks PPA for 30 MW of offshore wind in Vietnam

Thai power producer Gulf Energy Development PCL (BKK:GULF) has struck a power purchase agreement (PPA) for the 30-MW first phase of a 310-MW offshore wind project in southern Vietnam.

More specifically, Mekong Wind Power JSC, the operator of the Mekong project that includes a 30-MW solar farm and the above-mentioned offshore wind project, has signed a 20-year PPA with Vietnam Electricity. The latter will buy the output of the 30-MW offshore wind park at a tariff of about USD 0.098 (EUR 0.087) per kWh.

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Gulf Energy said that Phase 1 of the project will enter construction this quarter and be completed in 2021. The same year Phase 2 of 49 MW will be finalised as well, while Phase 3 of 231 MW is scheduled for completion between 2022 and 2023.

The company also responded to news that Vietnam's National Load Dispatch Center had issued electricity generation curtailment notices to many solar and wind parks in Ninh Thuan province and Binh Thuan province. Gulf Energy said that its solar plants in Tay Ninh province are not affected by this decision.

(USD 1.0 = EUR 0.891)