French bank Societe generale has been chosen to be the financial adviser for the initial phase of the Ke Ga offshore wind power project the world’s biggest project of its kind at present.
An agreement on this effect was recently inked between the UK’s Enterprise Energy the project’s investor and Societe generale.
The Ke Ga offshore wind power project is planned to cover 2,000sq.km. of water surface about 20 50km from the coast of the south central province of Binh Thuan. It is expected to have total capacity of 3,400MW.
Founder and Chair of Enterprise Energy Itan Hatton said to help accelerate the provision of low-cost energy from offshore wind power for Vietnam, his firm has invited Societe generale to act as the strategic adviser right from the initial stage of the project.
Allan Baker, Global Head of Power Advisory & Project Finance at Societe generale, said the Ke Ga project is critical to the energy structure transfer in Vietnam, and it will help turn the country into an important offshore wind power hub in the region.
In this project, the Vietnam-Russia oil and gas joint venture (Vietsovpetro) and the Vietnam-based Petroleum Equipment Assembly & Metal Structure JSC (PVC-MS) have been selected to design and manufacture offshore facilities.
Meanwhile, Mitsubishi Vestas Offshore Wind, a joint venture of Vetas Wind System A/S and Mitsubishi Heavy Industries Ltd, will supply wind turbines.
