Phuong Mai Wind Power JSC selects GE Renewable Energy for its first wind project in Vietnam

Apr 15, 2020

Hanoi, Vietnam – April 15, 2020 – GE (NYSE: GE) has signed a contract with Phuong Mai Wind Power JSC, a Special Purpose Vehicle entity jointly invested by Truong Thanh Development and Construction Investment Joint Stock Company (DECONNIN JSC) and Hanoi Construction - Industrial Investment JSC (HANOINCO., JSC) to provide 11 2.4MW-116 turbines and technical advisory service for Phuong Mai 1 wind farm.

To formalize the award of the contract, a signing ceremony using video links from five different cities included DECONNIN JSC, HANOINCO JSC, Agribank Trang An (the lender for the project), and GE, was completed on 19th March, 2020.

“We are excited to form the first partnership with a competent and reliable player in the industry like GE. We appreciate GE’s immediate response and commitment to this project. The contract is a result of just three months of contract discussion. We expect the project will come into operation earlier than scheduled” – shared by Mr. Nguyen Duy Hung, Deputy director of Deconnin JSC.

Mr. Phan Xuan Vu, Deputy Director of Hanoinco JSC, continued “Phuong Mai 1 project has gone through a very long journey with many challenges. Since Deconnin JSC and Agribank agreed to join us, the project has gained significant momentum to move ahead".

Located Binh Dinh province, the Phuong Mai 1 wind power project has good potential for wind energy. GE actively worked with various stakeholders like civil and electrical consultants and the client’s in-house construction teams to find the right solution for the prevailing site environment. Phuong Mai 1 wind farm targets starting generating energy by first half of 2021. This is the second wind farm in Vietnam using 2.4 MW-116 turbines. GE’s 2 MW platform of onshore wind turbines have more than 10 GW installed and in operation today.

At the ceremony, Mr. Tran Van Nam, deputy director of Agribank Trang An, expressed the Bank’s great interest in the renewable sector and restated the commitment to arrange sufficient funding for project execution.

"GE has always been an important player in helping Vietnam meet its energy needs. The Phuong Mai 1 project illustrates our continuous commitment to bringing customized solutions to our customers and meeting their specific project requirements. We are thrilled to be able to contribute to Vietnam’s energy transition and to continue supporting the local communities in doing so”, said Gilan Sabatier, Regional Leader for GE Renewable Energy’s Onshore Wind Business in South Asia and ASEAN.

GE currently operates 128 MW in Vietnam and is one of the oldest and largest OEMs in the country. GE’s business activities in Vietnam started 25 years ago and GE Renewable Energy’s footprint in Vietnam includes Wind and Solar farms, Hydro and Grid solutions and a strong manufacturing footprint employing over 1000 people.

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About GE Renewable Energy
GE Renewable Energy is a $15 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With nearly 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.
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About Truong Thanh Development and Construction Investment Joint Stock Company (DECONNIN JSC)
Established on 09/05/2008, Truong Thanh Development and Construction Investment Joint Stock Company (TRUONG THANH DECONIN., JSC.) is located in Yen Bai Province, Vietnam. The company operates in the Electric Power Transmission, Distribution & Marketing with main business in power generation. After over 12 years of operations in Producing, transmitting and distributing electricity, TRUONG THANH DECONIN., JSC has 3 companies in its corporate family.

About Hanoi Construction - Industrial Investment JSC (HANOINCO., JSC)
Hanoi Construction - Industrial Investment Joint Stock Company (HANOINCO., JSC,) has over 14 years presence in building and engineering. The company portfolios include industrial construction, civil engineering construction, hydro and thermal electrical construction, cement, and mining.

For media inquiries, please contact:

Adeline Teo
Communications, Onshore Wind Asia Pacific
GE Renewable Energy
+65 8725 3027
adeline.teo@ge.com