LONDON — BCG Energy and Siemens Gamesa Renewable Energy signed a memorandum of understanding for providing equipment and technical solutions for wind power development in Vietnam on the sidelines of the 26th United Nations Climate Change Conference of the Parties (COP26) on October 31 in the presence of Prime Minister Pham Minh Chinh.
Siemens Gamesa Renewable Energy, an affiliate of Germany’s Siemens AG, is a leader in the renewable energy industry and offers the world’s best offshore and onshore wind turbines and services.
Under the MoU, Siemens will supply equipment and technical solutions to BCG Energy for the latter to accelerate implementation of its roadmap to develop more than 500MW of wind power in Vietnam in the next few years.
The contract is worth around US$400 million.
According to Siemens Gamesa Renewable Energy, Vietnam is now the leader in Southeast Asia in renewable energy development and has favourable climatic conditions to develop wind power.
BCG Energy, one of the pioneers in Vietnam’s renewable energy industry, has a diverse portfolio of renewable energy projects, including solar farms, rooftop solar and wind energy, and targets a capacity of 1.5GW of renewable energy by 2023.
At a meeting and working session between the Prime Minister and business executives on the sidelines of COP26, representatives of BCG Energy and Siemens Gamesa Renewable Energy proposed bringing the wind power supply chain to Vietnam to improve generating capacity.
They also pledged to actively work with relevant stakeholders to promote growth in Vietnam’s wind power industry and help the country realise its goals of green transformation and sustainable development.
BCG Energy, the holding company for renewable energy assets under Bamboo Capital JSC, is among enterprises whose executives are accompanying PM Chinh and his high-ranking delegation to COP26.
One of the world’s leading wind power solution providers and with over 40 years in the renewable energy industry, Siemens Gamesa Renewable Energy brings engineering excellence to instal and service thousands of turbines that generate over 100GW of wind power all over the world, or enough clean energy to power nearly 87 million households annually.
In Vietnam, it supplies equipment and technical solutions for 14 wind power projects with a total capacity of 1.17GW.
BCG Energy also plans to work with other large European firms to discuss cooperation in the fields of supporting industries and renewable energy technologies.
Prime Minister Pham Minh Chinh left Hanoi on Sunday for the 26th United Nations Climate Change Conference of the Parties (COP26), and bilateral visits to the UK and France from October 31 to November 5 at the invitation of his British and French counterparts, Boris Johnson and Jean Castex.The trip has great diplomatic and economic significance. The PM and his delegation will participate in a number of activities, including multilateral and bilateral meetings, and meetings with Vietnamese communities and businesses.PM Chinh will also meet heads of large British and French businesses, attend a forum on the investment and business environment in Vietnam where he will speak about the country’s important economic policies to deepen trust and attract more investors, businesses and international partners.