One of Vietnam’s largest owner’s engineer agreements will cover the Kông Yang (175MW) and Cư An (175MW) projects
Ho Chi Minh City, 20th September 2021 – K2 Management (K2M), a leading renewable energy consultancy, has been appointed as owner’s engineer for two of TSV Investment’s onshore wind projects in Vietnam that will receive support from the United States Agency for International Development (USAID).
The role will see K2M draw on its breadth of international experience to deliver comprehensive engineering consultancy for the 175MW Kông Yang and 175MW Cư An projects in the Gia Lai province, being developed by TSV Investment, a pioneer in renewable energy deployment in Vietnam.
Both projects represent a substantial contribution to the renewable energy goals of the Government of Vietnam and are set to achieve commercial operation in 2023.
K2M will provide analysis to optimise project returns through energy yield assessment analysis and wind turbine generator selection (revenue optimisation) and through managing the procurement process (cost optimisation). This will support the de-risking of the projects and provide TSV with best-in-class, third-party visibility on the projected financial performance of the projects prior to construction starting.
USAID, working through the USAID INVEST initiative, seeks to facilitate private investment in the renewable energy sector in Vietnam. Through a competitive process, USAID INVEST selected TSV to receive USAID support and K2M to provide that support.
Do Van Dien, Chairman, TSV Investment, said: “TSV is very pleased to once again be partnering with K2 Management, this time on our Gia Lai projects on one of the largest contracts of its type in Vietnam. We are sure of a successful outcome, just as we experienced when TSV collaborated with K2M on our earlier wind projects in Ninh Thuan which reached commercial operation in 2017.”
Jamey Hadden, Director of International Operations, TSV Investment added: “Our collaboration with K2 Management is the result of an important evolution in TSV’s approach to the roles and responsibilities of a Vietnamese renewable energy developer. TSV offers more depth to international standards of project de-risking and financial performance transparency, as this appointment demonstrates.”
Patrick Architta, President, K2 Management Asia Pacific said: “We are delighted to have been selected by USAID INVEST to undertake this owner’s engineer role for a developer that is taking its responsibility as a developer and investor in Vietnamese onshore and offshore wind seriously. K2M has a track record of supporting wind projects in Vietnam, from their early development phase, through construction and then onto asset management. I’ve no doubt that our local knowledge, combined with our international experience will ensure the successful delivery of these two exciting projects.”
About TSV Investment:
TSV Investment J.S.C. is a pioneer in renewable energy (RE) deployment in Vietnam. Leveraging a background in engineering and construction – in operation since 2003 – Chairman Do has built an organization that has taken on the permitting, licensing, land acquisition, project management and project finance roles in both solar and wind projects.
TSV co-developed the first wind projects to reach COD (2017) for a non-EVN developer, the first to join in a Viet/International partnership on a wind project and one of the first to secure a non-recourse loan package for a RE project in Vietnam.
TSV is currently developing an onshore wind pipeline of 800MW and an offshore wind pipeline of 2GW.
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About K2 Management
K2 Management supports its clients in their efforts to develop and operate sustainable energy projects that achieve the best possible return on investment. We do that by delivering a wide range of services within engineering, planning, project management, and due diligence spanning the entire value chain of an energy project; from the earliest phase of development, through construction as well as maximizing operations with asset management, spanning the entire value chain of an energy project.
We want to create value for our clients and partners while maintaining a safe and meaningful working environment for our employees. We believe it is our duty as consultants to be 100 percent client-focused, dedicated and committed in our role as owners’, buyers’ or lenders’ advisor.
K2 Management is headquartered in Denmark with 20 global offices and, accumulated, our experienced team has been involved in more than 1,950 successful onshore wind, offshore wind, solar PV and wave & tidal projects – in over 40 countries.
For more information, please see: www.k2management.com