31 March 2015
Mr Do Van Dien (centre left), Chairman of TSV Invest and Development Vietnam, shakes hands with Olivier Duguet, CEO of The Blue Circle, to seal the deal for the company's second wind project in Vietnam.
Singapore-based renewable energy developer The Blue Circle, operating in the Mekong region (Vietnam, Thailand and Cambodia), has received approval for a second wind project in the Ninh Thuan province, South Vietnam.
Following the installation of the first 100 metre meteorological mast in the Ninh Thuan province for its first project in October 2014, The Blue Circle has been awarded a second site to develop a wind project at the Dam Nai location, in the north of the Ninh Thuan province.
Together with its Vietnamese partner TSV, The Blue Circle has received policy approval from the highest authorities of the province in an official ceremony on 25 March during the Conference on Investment in Ninh Thuan Province, sponsored by the People's Committee of Ho Chi Minh City.
The awarded site comprises of 933 hectares along the Highway 1 and is used mainly for rice cultivation today. The application was placed for 100 MW energy generating project to be built in phases for a total potential investment of US$200 million. The electric substation to connect the turbines to the Vietnamese national grid is onsite.
"This second approval of a wind project in Ninh Thuan province confirms our commitment to develop wind power in Vietnam as well as the success of our partnering strategy" said Olivier Duguet, Chief Executive Officer of The Blue Circle.
"We selected this site two years ago as an ideal location for its excellent wind potential and we are honoured to have been chosen by the Ninh Thuan provincial authorities to develop the site into a wind power project", Mr Duguet added.
The next step for the Dam Nai site development will be the installation of a 100 metre meteorological mast in the coming weeks and the start of engineering studies. The construction of first phase of the project is expected after permitting is completed mid-year 2016.
About The Blue Circle
The Blue Circle is a developer of wind and solar energy projects in Thailand, Vietnam and Cambodia. The Singapore based company looks to bridge the gap in project development in the Southeast Asia region by bringing international project development experience, financial expertise and capabilities together with local market understanding. Its growth strategy is twofold: through the development of its own projects and through acquisition or partnership with local developers. By being vertically integrated, The Blue Circle can identify green field sites, pursue project development milestones up until financing and operating of the generating assets. www.thebluecircle.sg
For further information, please contact:
Olivier Duguet
Tel: +65 62594921
olivier.duguet@thebluecircle.sg