The Blue Circle gets go ahead for second wind energy project in Vietnam

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

The Blue Circle appoints two new directors to drive its South East wind projects

27 February 2015

To drive its strategy to become the leading independent wind energy producer in South East Asia, Singapore-based company The Blue Circle has appointed two new directors to its board - the banking executive Philippe Damas and one of Thailand's respected energy engineers Buranawong Sowaprux.

The appointments expand the company's board to five members, in addition to Andrew Affleck, Jean-Francois Peron and Olivier Duguet.

"We are pleased to welcome Philippe Damas and Buranawong Sowaprux to our Board of Directors" said Olivier Duguet, Chairman and Chief Executive Officer of The Blue Circle. "Both bring their extensive working experience in Asia and their special relationship with energy and finance in Thailand and Singapore. We highly value the additional and complementary perspectives they bring to our board."

Philippe Damas has been the Chief Executive Officer of ING Group Retail and Private Banking for Asia until 2009 and is board member and Chairman of the Executive Committee of the TMB Bank since 2008. Having subsequently worked for JP Morgan Securities as Managing Director in Tokyo, London, Hong Kong, and for the Bruxelles Lambert Bank in Brussels, Philippe joined the ING Group in 2000 and served as Chief Executive Officer of ING Baring in London before heading the ING Private Banking Unit in Amsterdam and ING Retail and Private Banking Asia in Singapore from July 2005 to November 2009. Philippe is also member of the Board of different asset managers based in Singapore beside his position at the TMB Bank in Bangkok. Philippe has a Master of Business Administration from Columbia University and an Engineering degree from Ecole Nationale de l'Aéronautique et de l'Espace in Toulouse.

Buranawong Sowaprux has over 28 years of experience in the energy sector, having served in various management roles for ExxonMobil Corporation. Buranawong joined Esso (Thailand) Public Company Limited in 1985 to become Finance Manager in 1989. In 1995, he led a project team to transform Esso (Thailand) PLC to become a public company listed on the Bangkok Stock Exchange. After serving in the USA and Singapore for the ExxonMobil Group, Buranawong returned to Thailand in 2002 to become Esso (Thailand) PLC Controller. He retired in 2013 after holding a management position in ExxonMobil Global Services Company in Houston and being Director of ExxonMobil Limited. Buranawong is graduated from the Chulalongkorn University and holds a Doctorate in Industrial Engineering from the Texas A&M University.
 
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 Mekong 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 greenfield sites, pursue project development milestones up until financing and operating of the generating assets.
 www.thebluecircle.sg
 
In October 2014, The Blue Circle announced it installed its first 100 meters meteorological mast in Ninh Thuan province, Southern Vietnam, supported by the United States Agency for International Development (USAID), under its regional Private Financing Advisory Network-Asia programme (PFAN-Asia). This is the first meteorological campaign to measure wind energy potential in Southern Vietnam supported by USAID.

In May 2014, The Blue Circle announced the signing of a partnership with Armstrong Asset Management, which has agreed to commit up to US$40 million in equity to fund the construction of wind and solar projects in South East Asia developed or acquired by The Blue Circle. In July, the company announced a partnership with Annex Power, a leading renewable energy group in South East Asia, to jointly develop wind power plants in Thailand.
 
 
For further information, please contact:
 
The Blue Circle
Olivier Duguet   Tel:  +65 62594921         olivier.duguet@thebluecircle.sg
 
Sustain Ability Showcase Asia
Ken Hickson   Tel: +65 81397472      Kenhickson@sustain-ability-showcase.com

The Blue Circle receives USAID funding for its first meteorological tower in Vietnam

Singapore - October 16th, 2014

The Blue Circle Pte Ltd, the Singapore-based renewable energy developer operating in the Mekong region (Vietnam, Thailand and Cambodia), has installed its first 100 metre meteorological mast in Ninh Thuan province, Southern Vietnam.

The United States Agency for International Development (USAID), under its regional Private Financing Advisory Network-Asia programme (PFAN-Asia), supported this initiative by supplying all the measurement equipment to be installed for this first meteorological campaign to measure wind energy potential in Southern Vietnam.

PFAN-Asia assists developers in Southeast Asia to mobilise and scale up investments in clean energy. The goals of the PFAN-Asia programme are to mobilise US$1 billion in funds for clean energy investments and reduce greenhouse gas emissions by 40 million tons.  PFAN-Asia provides networking, technical assistance and advisory support to key stakeholders, in this case one of Asia’s premier wind developers.

The project, on which the 100 metres tower was first erected in September, has been granted a renewable energy policy approval by the People’s Committee of Ninh Thuan province for the development of a 30 MW wind farm on an exclusive 542 hectares plot of land in the south of the province.

The installed 100 metres mast will play a critical role in the wind measurement campaign started by The Blue Circle to accurately assess the wind energy resource in the area.  The study will last two years and is expected to lead to a forecasted US$70 million investment in the wind power plants.

The meteorological mast installed by Nam Kinh Trading Services is the first of its kind in South Vietnam at a height of 100 metres and will help by spreading best practises in wind measurement in the whole region. The equipment has been installed in line with International Energy Agency (IEA) recommendations and to The Blue Circle’s stringent specifications.

Dan Potash, Chief of Party of PFAN-Asia: “Working with private sector partners, USAID is helping to carry out bankable resource assessments, leading to significant and sustainable clean energy projects. The Ministry of Energy of Vietnam estimates that there is more than 10,000 MW of near-term economically viable wind power in the country. PFAN-ASIA and USAID believe that it is very important that the first wave of wind power installations achieve predicted results”.

“We are proud that USAID through its PFAN-Asia programme chose to support The Blue Circle initiative in Vietnam. It shows dedication from USAID to develop renewable energy in the region that desperately needs clean power at a reasonable cost,” added Olivier Duguet, Chief Executive Officer of The Blue Circle Pte Ltd.

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 Mekong 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 greenfield sites, pursue project development milestones up until financing and operating of the generating assets.    

For further information, please contact: 
 
The Blue Circle
Olivier Duguet   Tel:  +65 62594921         olivier.duguet@thebluecircle.sg 

PFAN-Asia
Daniel Potash Tel: +66 927909923            dpotash@deloitte.com

Sustain Ability Showcase Asia
Ken Hickson  Tel: +65 81397472      Kenhickson@sustain-ability-showcase.com