The Blue Circle and AC Energy have ordered the first GE 5MW-158 from General Electric (GE) for the second phase of the Mui Ne project in South Vietnam
The Blue Circle and its partner AC Energy, the power generation arm of Philippine conglomerate Ayala Corporation, have signed Asia’s first Notice to Proceed with General Electric Renewable Energy (GE Renewable Energy) for its new Cypress platform wind turbines.
“The Blue Circle and its partner AC Energy are one of the premier renewable energy companies in the Asia Pacific, and we are thrilled they’ve selected our brand-new Cypress platform turbines. GE remains deeply committed to Vietnam’s energy future - our 5MW Cypress turbines are ideally suited to make the best use of the Vietnam’s tremendous wind energy potential,” said Deepak Maloo, regional sales leader of GE Onshore Wind.
The eight turbines with a unit capacity of 5MW for a total of 40MW will carry the largest rotor diameter for an onshore project in Asia (158 meters) and will be the first to transport blades in two pieces before assembly on site.
“This technology is a game-changer for onshore sites as it will allow larger capacity machines, lowering our cost of energy and enhancing competitiveness of wind energy,” said Hervé Grillot, chief construction officer of The Blue Circle.
Despite the general suspension of master plan approvals in Vietnam related to the new Planning Law implementation, The Blue Circle has succeeded in securing the land and grid connection for the Project in a difficult context.
“The Binh Thuan province is a very complex and challenging environment to implement a wind power project,” explains Olivier Duguet, Chief Executive Officer of The Blue Circle. He adds, “We are now extending the Mui Ne Project with a second 40MW phase to be commissioned in 2021.”
The Mui Ne Wind Project site has a total expansion potential of up to 170MW in one of the best wind resource areas in continental Vietnam. The Project’s estimated cost is around US$80M, which will be financed by debt and equity, and is planning to qualify for the wind feed-in-tariff of 8.5 US cents per kWh.
“This latest addition to the Mui Ne Project is a significant stride towards AC Energy’s 2025 goal of reaching 5GW of renewables capacity in the Philippines and around the region,” said Patrice Clausse, chief operating officer of AC Energy International. “We have strongly pushed for the adoption of new technologies and best practices to grow our assets in renewables with the continuous support to pursue innovation from partners like The Blue Circle,” he added.
AC Energy (through its wholly-owned subsidiary, AC Energy Vietnam Investments 2 Pte. Ltd.) will participate in this Project with a 50 per cent voting stake. GE Vietnam will provide a Full Service Agreement for up to 15 years, and The Blue Circle will manage operations through an Asset Management Services contract.
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About The Blue Circle
Founded in 2013, The Blue Circle identifies, develops, finances, owns and operates renewable energy projects in complex and challenging geographies in the Asia-Pacific region. The Blue Circle uses the most advanced technology to build responsible and sustainable projects. With offices in Singapore, Ho Chi Minh City, Bangkok and Phnom Penh, The Blue Circle is the leading renewable energy company of Southeast Asia. Its team is committed to changing the world one green electron at a time. www.thebluecircle.sg
About AC Energy
AC Energy is the energy platform of Ayala, one of the largest business groups in the Philippines. AC Energy is one of the fastest growing energy companies with over US$1 billion of invested and committed equity in renewable and thermal energy in the Philippines and around the region. From a strong local base, AC Energy is expanding rapidly around the region through strategic partnerships and greenfield initiatives. The company aspires to exceed 5 GW of attributable capacity and generate at least 50 per cent energy output from renewables by 2025. In 2019, AC Energy’s power portfolio registered an attributable capacity of over 1.8 GW in operation and under construction, spanning projects in the Philippines, Indonesia and Vietnam. The company increased its attributable energy output in 2019 by 25 per cent to 3,500 Gigawatt hours, of which 50 per cent came from renewable energy sources. www.acenergy.com.ph
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. Follow us at www.ge.com/renewableenergy, on www.ge.com/renewableenergy, or on www.ge.com/renewableenergy,
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For further information, please contact:
The Blue Circle
Ain Aziz
Tel: +65 9665 5904
ain.aziz@thebluecircle.sg
AC Energy
Irene Maranan
Tel: +63 917 5298339maranan.is@acenergy.com.ph
GE Renewable Energy
Adeline Teo
Tel: +65 8725 3027
adeline.teo@ge.com
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