Ireland's Mainstream Renewable Power has received the final go-ahead for an offshore wind farm in Vietnam. The Phu Cuong Soc Trang Offshore Wind Farm is a joint venture between Mainstream (70%) and Vietnamese partner Phu Cuong Group (30%).

Mainstream on November 12 said it has received a decision on investment and an investment registration certification from the provincial government of Soc Trang for the first 200-megawatt phase of the project.

During a meeting with Prime Minister Pham Minh Chinh at the COP26 summit in Glasgow last week, Mainstream group chief executive officer Mary Quaney reiterated her company's commitment to help accelerate Vietnam’s energy transition.

The project, once fully completed, will have a capacity of up to 1.4 gigawatts (GW) and will generate enough electricity to power over 1.6 million homes, as well as displacing 1.8 million tonnes of carbon dioxide emissions each year. It is expected to reach financial close in 2022, and start delivering power in 2023.

Mainstream says it has completed wind measurement and other site studies for the project, and the process to secure a wind turbine supplier and balance of plant contractor is well advanced.

Moving forward, Mainstream will work closely with EVN, Vietnam’s national electricity company, to finalize the grid connection agreement, as well as the project’s power purchase agreement.

Mainstream, which has been present in Vietnam since 2016, is developing 2.3GW of solar and offshore wind assets in the country.

"We commend the government for the progress made in encouraging the development of renewable energy in Vietnam to date," says Cameron Smith, Mainstream’s general manager for Asia-Pacific. "The Phu Cuong Soc Trang project promises to be a catalyst for the development of a true offshore wind industry of a scale that will promote the achievement of net zero by 2050."

"The Phu Cuong Soc Trang offshore wind farm is an essential investment in Vietnam’s clean energy infrastructure and will make a major contribution towards the country’s carbon neutrality roadmap," says Nguyen Viet Cuong, chairman of the Phu Cuong Group.

"This wind farm, which will be the largest in the region, will play a key role in accelerating the development of Vietnam's economy by promoting the growth of industrialization."

Mainstream has projects in operation in South Africa, Canada, Ireland and Chile. In Chile, its wholly owned subsidiary Andes Renovables is developing a 1.3GW wind and solar portfolio.