Emerging market specialist forms strategic partnership with clients
March 9, 2021 – Modern Energy Management (MEM), a specialist in developing, building and operating investment grade renewable energy projects in emerging markets, announced that it was appointed as the Owner’s Representative for a strategic, confidential client’s 100MW wind development project in Vietnam.
Modern Energy’s scope includes their appointment as the Owner’s Engineer for the project, providing technical and commercial support and overall project management of the development scope to reach the project’s financing of construction. The CAPEX for the 100MW facility is estimated at 140 million USD. Construction on this project is anticipated to start during Q2/2022.
Aaron Daniels, Managing Director of Modern Energy Management stated, “Development capital is the key constraint to increasing the rate of installed capacity of renewable energy in Southeast Asia. To deploy investment funds, renewable energy infrastructure investors are increasingly looking to enter earlier in the project lifecycle. Due to our experience delivering wind projects for our clients, particularly in Vietnam, Modern Energy Management is very well placed as a development services provider for this type of investor.
“As has been proposed, the Feed in Tariff (FiT) in Vietnam gradually decreases after November 2021,” Mr. Daniels continued. “Successful investors in this market will need to be much more competitive. This means that energy resources alone will not ensure success. In addition to having solid wind resources, projects will need to have aggressive CAPEX and OPEX targets. Optimizing the financial performance of renewable energy projects is really at the heart of Modern Energy’s expertise.”
Power demand continues to grow in Vietnam, where it is expected to double between 2020 and 2030. While there is currently about 450MW of operational wind projects, over 1.6GW of wind projects are estimated to be installed before the FiT expires in November. Vietnam is targeting to have 2GW of wind installed by 2025, and a total of 6GW by 2030.
Link to original press release: Modern Energy Management Co., Ltd. – Modern Energy Management appointed as Owner’s Representative for 100MW Vietnam wind project – Emerging market specialist forms strategic partnership with clients (globalrenewablenews.com)