AC Energy Corp. and its foreign partner, BIM Group, announced on Monday its 88-megawatt (MW) Ninh Thuan wind farm in South Central Vietnam has commenced commercial operations.
The $155-million wind farm is their first wind power plant that goes online in Vietnam, making the country the second-largest market to date after the Philippines.
It also brings AC Energy's renewable energy (RE) capacity in the country to 1,000 MW in operation and under construction.
This wind project features 22 units of GE Renewable Energy's Cypress turbines. It is expected to produce 327 gigawatt hours per year once fully operational, enough to power around 50,000 homes per year with RE that can help avoid 298,551 tons of carbon dioxide annually.
The Ninh Thuan wind farm is the second joint project of AC Energy and BIM Group following the inauguration of the 405-MW Ninh Thuan solar farm, one of the largest solar farms in Southeast Asia, in 2019.
Both Ninh Thuan Solar and Ninh Thuan Wind are expected to generate around 900 million kilowatt hours of RE per year.
"We are very excited to bring this new project into commercial operations ahead of the feed-in tariff deadline, notwithstanding the many challenges brought about by the Covid-19 pandemic," Patrice Clausse, chief operating officer of AC Energy International, said.
Clausse also said the company will continue to accelerate its RE investments in Vietnam and aid in the country's goal to increase the share of renewables in their energy mix.
"This is yet another successful partnership between the BIM Group and ACEN following the cluster of 405-MW Ninh Thuan Solar Farm projects, which transformed the region into Vietnam's largest salt and RE economic zone while contributing to the country's sustainable economic development, environmental protection and clean energy production for the future," said Huy Quoc Doan, BIM Group deputy chairman and chief executive officer.
Eric Francia, AC Energy president and chief executive officer, said the company is on track to reach its goal of 5,000 MW of RE capacity and become the largest renewables platform in Southeast Asia.
Currently, AC Energy has 2,600 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India and Australia.
The company's renewable share of capacity is at 80 percent, among the highest in the region.
"ACEN is at the forefront of energy transition and has identified Vietnam as one of its priority markets," said Francia.
Shares of AC Energy inched up by 30 centavos, or 2.58 percent, to settle at P11.92 each on Monday.