Mainstream Renewable Power and GE Energy Financial Services have signed a term sheet to develop, build and operate large-scale wind projects in Vietnam.
The companies expect the projects to comprise both greenfield and partially developed sites. The projects are intended to include cooperation with local and international developers and will receive financing through both Mainstream and GE Energy Financial Services.
The aim of the agreement is to complement the 1 GW initiative that GE and Vietnam’s Ministry of Industry and Trade signed in May to accelerate a large-scale wind build-out in the country.
By combining Vietnam’s abundant wind resources; GE’s technology and in-country manufacturing capability; and Mainstream’s experience in the development, construction and operations of projects, the partners aim to better enable the country to reach its 2020 renewable energy target.