Siemens Gamesa helps to unlock surging renewable potential in Vietnam in deal to provide clean electricity to 240,000 people

The deal also marks the largest order in the country for Siemens Gamesa. Additionally, the company has secured a long-term 10-year service contract.

The project, located in the Bac Binh district, Binh Thuan province, on the South-Central coast of Vietnam, is developed by Hoa Thang Energy Joint Stock Company, a special-purpose vehicle of Vietnam’s construction group Trading Construction Works Organization (WTO) which has close to 60 years construction experience.

Hoa Thang Energy is a pioneer of renewable energy in Vietnam, where the fast-growing economy has seen electricity demand rise by around 10% annually. The Vietnamese government estimates that total power generating capacity will reach 125-130 GW by 2030, up from 46 GW in 2018. In order to mitigate climate concerns, the government also aims for renewable energy to account for 15-20% of its total energy output by 2030 and has established a target of developing 6 GW of wind power capacity by 2030.

“With an accumulated installation of 101 GW, Siemens Gamesa can leverage its global expertise and footprint to partner with Hoa Thang Energy to develop one of the largest wind farms in Vietnam. As market scale and financing are helping to unlock potential in Vietnam, we are committed to supporting our Vietnamese customers to accelerate the penetration of renewable energy and bring clean power for generations to come,” said Richard Paul Luijendijk, CEO of Siemens Gamesa’s Onshore business unit in APAC.