Dam Nai wind farm Vietnam to be acquired by SN Power

SN Power, a Norwegian renewable energy company, has agreed to acquire the operating 39.4MW Dam Nai wind farm in Vietnam from Mekong Wind for an undisclosed price.

Mekong Wind is wholly owned by Singapore-based Armstrong South East Asia Clean Energy Fund.

Details of the Dam Nai wind farm Vietnam

The Dam Nai wind farm is located in southern Vietnam in the Ninh Thuan province, about 350km north of Ho Chi Minh City.

The Vietnamese wind farm was built in two phases, with the first phase of 7.9MW capacity going online in October 2017. The second phase, of 31.5MW capacity, began commercial operations in December 2018.

Dam Nai wind farm Vietnam. Photo courtesy of Dam Nai Wind Power JSC.

The Dam Nai wind project, comprises 15 x 2.625MW Siemens wind turbines, which put together have an average generating capacity of 123GWh annually.

Spread over an area of about 133,000m2, at 10 metres above sea level, the Vietnamese wind project has estimated annual revenues of $10.5 million under the 20-year Feed In Tariff scheme for wind in Vietnam.

Dam Nai wind farm financing – The Vietnamese wind farm is financed by non-recourse debt provided by the Bank for Investment and Development of Vietnam (BIDV).

The deal is expected to close in Q1 2021.

Last month, Scatec Solar signed an agreement to acquire SN Power from Norfund for $1.16 billion. The new purchase price for SN Power will now include the Dam Nai wind project acquisition.