French bank named financial adviser for Ke Ga wind power project
French bank Société Générale has been chosen to be the financial adviser for the initial phase of the Ke Ga offshore wind power project – the world’s biggest project of its kind at present.
The Ke Ga offshore wind power project is expected to have total capacity of 3,400MW, making it the world’s biggest project of its kind at present (Illustative photo: VNA)
Hanoi (VNA) – French bank Société Générale has beenchosen to be the financial adviser for the initial phase of the Ke Ga offshorewind power project – the world’s biggest project of its kind at present.
An agreement on this effect was recently inkedbetween the UK’s Enterprize Energy – the project’s investor – and SociétéGénérale.
The Ke Ga offshore wind power project is plannedto cover 2,000sq.km. of water surface about 20 – 50km from the coast of thesouth central province of Binh Thuan. It is expected to have total capacity of3,400MW.
Founder and Chairman of Enterprize Energy ItanHatton said to help accelerate the provision of low-cost energy from offshorewind power for Vietnam, his firm has invited Société Générale to act as thestrategic adviser right from the initial stage of the project.
Allan Baker, Global Head of Power Advisory &Project Finance at Société Générale, said the Ke Ga project is critical to theenergy structure transfer in Vietnam, and it will help turn the country into animportant offshore wind power hub in the region.
In this project, the Vietnam-Russia oil and gasjoint venture (Vietsovpetro) and the Vietnam-based Petroleum Equipment Assembly& Metal Structure JSC (PVC-MS) have been selected to design and manufactureoffshore facilities.
Meanwhile, Mitsubishi Vestas Offshore Wind, ajoint venture of Vetas Wind System A/S and Mitsubishi Heavy Industries Ltd.,will supply wind turbines.-VNA
The proposed offshore wind power project in the south central province of Binh Thuan will have a designed capacity of 3,400 MW and require total investments of nearly 12 billion USD, UK developer Enterprize Energy said.
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The Ke Ga offshore wind power project is expected to have total capacity of 3,400MW, making it the world’s biggest project of its kind at present (Illustative photo: VNA) 
