Nexif Energy, an Australian and South East Asian power company, backed by Denham Capital has formed a 50:50 partnership with RATCH Group for construction and operation of its Nexif Energy Ben Tre wind power generation project (NEBT) in Vietnam.
This is the second project Nexif Energy is undertaking with RATCH Group after forging a successful partnership last year on the Rayong Co-Generation project in Thailand.
The 80 MW near-shore wind power generation project is located in Thanh Hai commune, Thanh Phu district of Ben Tre Province, about 160 km southeast of Ho Chi Minh City, Vietnam.
The entire electricity generation of the project will be sold to Vietnam Electricity Corporation (EVN) under a 20-year power purchase agreement. Permits and interconnection agreements for the project have been secured. The project broke ground on construction activities on 15 May with a construction schedule of 19 months to commercial operations.
SEPCOIII, a leading global engineering & construction company specialising in the construction of renewable, thermal, nuclear and seawater desalination projects, has been selected as the EPC Contractor and O&M Contractor for the Project. The Project will utilise 19 units of the highly efficient Goldwind 155-4.5MW Wind Turbine Generators which are evaluated to be the most suitable for the wind regime that prevails at the project location.
Nexif Energy has developed a high-quality wind resource map for the project using measurement data via a met mast for over three years and further correlated it by installing an offshore LIDAR station.
Nexif Founder and Co-Chief Executive Officer, Surender Singh, says: “Nexif Energy is pleased to be making rapid progress on the Ben Tre Wind Project and extending its ongoing relationship with RATCH Group. We share with RATCH a common vision to bring world leading technology solutions to address the challenges of the energy transition.”
Matthew Bartley, Founder and Co-Chief Executive Officer of Nexif Energy, adds: “Ben Tre Wind project is our third investment in Vietnam and confirms our long-term commitment to the growing power sector in the country. We are developing several other opportunities in Vietnam and other countries of South East Asia to be among the leading renewable energy solution providers in the region.”
Denham Capital Managing Director, Saurabh Anand, adds: “Denham Capital remains committed to delivering affordable, clean power to support the high economic growth in places like Vietnam. This project brings us closer to our target of investing in a portfolio of more than 1000 MW of renewable generation projects in Asia and Australia by the end of 2021.”