Target of producing 21% of electricity requirement from renewables by 2030 through the Power Development Master Plan
Increasing cost of grid electricity incentivizing C&I customers to transition to renewables
With a coastline of over 3,200 km, Vietnam has significant wind energy potential
Who We Are
Hero Future Energies Asia Pte Ltd. (UEN 201623563M) serves as the regional hub in Asia, with its headquarters situated in Singapore. HFE has had a prominent presence in Vietnam since 2017, with well-appointed offices in both Ho Chi Minh and Hanoi
How We Are Different
Being one of the earliest movers in this space provides a natural advantage for HFE which is complemented by a strong network of regional partnerships, prior experience of having executed large scale projects, procurement benefits due to global scale and an experienced team with knowledge of local market.
HFE aspires to be a major player in the rapidly growing RE market in the country, utilizing the favourable policy environment and growing RE penetration in overall power mix
What We Are Doing
Commissioned Project
In 2022, HFE launched a C&I rooftop solar business to serve the captive energy demands of the industrial and commercial segments. In September 2023, HFE successfully commissioned its very first project in Vietnam – a 0.9MWp rooftop solar power plant at the factory of a leading snackfood company. HFE has a firm pipeline of 40 MW currently under development. Furthermore, HFE Asia has entered into a strategic partnership with a distinguished regional developer to collaborate on a 50 MWp rooftop solar portfolio.
Photo of REBISCO site
Projects In Pipeline
100 MW Wind Plant in Kon Plong
(with potential for expansion of an additional 100 MW)
The mountainous region of the Vietnamese central highlands offers more than scenic views, the ridges also draw strong winds. Our wind farm harnesses this power of the wind to generate sustainable energy for the country and host communities. Located in the Kon Plong district in Kon Tum, Vietnam, the wind farm is sited on high elevation ridges, bordering valleys with paddy fields.
Current Status
The project has received a concession from the local government and two metrological masts have been erected to measure wind data. Environmental impact studies and design works are ongoing. Financial closure is planned to be completed in Q4 2023 with commissioning in 2024.
Energy Output
The wind farm will have an installed capacity of 100 megawatts (MW) equivalent to the consumption of 62,000 Vietnamese homes. The project is planned to employ wind turbines with capacities of 4-5 MW and hub (tower) heights of 120 meters.
Community
The project represents a capital investment of approximately $150 million and will create approximately 300 jobs during construction as well as approximately 20 permanent jobs during operations. Throughout the project’s lifecycle, a substantial sum will be spent in the local community, in addition to providing enhanced infrastructure and roads, and potentially generate eco-tourism. The wind farm allows land to remain in agricultural use.
Environment
The project will mitigate approximately 170,000 tonnes of carbon emissions per year from fossil fuel power plants, which are major contributors to climate change. Hero Future Energies is currently conducting an environmental impact study on biodiversity in and around the site, including impacts on flora, birds and bats. A series of stakeholder consultations at the local community level will also be carried out to review the impact studies and project plans.
Vietnam Offices
Ho Chi Minh:
#613, 6F Me Linh Point Tower, 02 Ngo Duc Ke, District 1, Ho Chi Minh City, Vietnam
Hanoi:
5th Floor, Leadvisors Place, 41A Ly Thai To Street, Ly Thai To Ward, Hoan Kiem District, Hanoi, Vietnam
