Singapore

Nexif Ratch Energy and Binh Dinh Province sign Memorandum of Understanding for the development of a 150 MW wind power project in the Binh Dinh Province

Nexif Ratch Energy, a leading renewable energy independent power producer in the Southeast Asia region, and Binh Dinh Province have signed the Memorandum of Understanding (MoU) for the development of the Nexif Ratch Binh Dinh 150 MW onshore wind project in Van Canh district, Binh Dinh province (“the Project”) during the prestigious Binh Dinh Investment Conference on 29 March with presence of senior leaders of central and local government including Mr. Tran Luu Quang, Deputy Prime Minister and Mr. Ho Quoc Dung, Secretary of Binh Dinh province Party. The Binh Dinh Investment Conference serves as a platform to showcase the province’s investment potential and attract local and international investors to participate in its economic growth.

Under the terms of the MOU, Nexif Ratch Energy will explore and develop the Project with an estimated USD 230 million total investment. The Project shall produce an electricity output of 433,500 MWh/year providing clean energy for local people and industries. The Project is also expected to bring significant positive social and economic impact to the province with more than 100 employees and VND 500 billion VAT contribution during the construction and 15 employees and VND 50 billion VAT contribution during operation.

Nexif Ratch Energy brings to the table its extensive expertise in renewable energy project development, backed by a track record of successful ventures across the Southeast Asia region. With a focus on sustainability, innovation, and community engagement, Nexif Ratch Energy is poised to leverage its capabilities to drive positive development in Binh Dinh Province.

Binh Dinh Province, known for its rich natural resources and strategic location, presents an ideal environment for renewable energy development. By harnessing the region’s abundant renewable energy potential, the partnership aims to bolster energy security, reduce greenhouse gas emissions, and stimulate economic growth while creating new employment opportunities for local communities.

Speaking at the MOU signing event, Mr. Cyril Dissescou, CEO of Nexif Ratch Energy expressed enthusiasm about the partnership, stating, “We are thrilled to collaborate with Binh Dinh Province to unlock the full potential of renewable energy in the region. The signing of the MoU shows the strong support and co-operation of the leaders of Binh Dinh province for our Project. After the MoU, Nexif Ratch Energy expects that Binh Dinh province shall propose the Project into the provincial project list for the PDP8 detail implementation plan so that we can quickly implement the project in accordance with the plan.”

The signing of the MOU between Nexif Ratch Energy and Binh Dinh Province represents a significant step forward in Nexif Ratch Energy’s pursuit of sustainable energy solutions in Vietnam. As the country continues to embrace renewable energy as a key driver of economic growth and environmental stewardship, partnerships like this will play a pivotal role in shaping a more sustainable and resilient energy landscape for the future.