NOVA has recently invested to expand our business into development of wind power projects both on-shore and off-shore in Vietnam
We continually engage both regional and Vietnam asset investors and operators, identifying opportunities both within the solar power and wind power project space, including, in 2021 proposals relating to ongoing decarbonization proposals within the SOE space, evaluating a range of potential technologies and fuel displacement opportunities.
Through our long project development experience, including past fund raising initiatives, NOVA have established a relationship network to local lenders, and are able to support our clients, as required, to build those relations with local institutions to enable and facilitate introductions and project financing partnerships that promote long-term local project development success.
NOVA’s commercial engagement within the Kon Plong Vietnam developer group, leading the negotiation of a joint development agreement (JDA), enabled us to bring together our local development partners to work along with our international development partner. The JDA facilitated the project’s capability to engage with the market and allowed the project consortium to successfully negotiate and close on a win-win agreement with wpd AG.
Our joint engagement with our local partner has allowed the project to achieve its Investment Certificate (IRC) milestone, even under difficult Covid quarantine restrictions.
Our familiarity and credibility with the relevant Vietnam governmental agencies, built over many years of delivering project results, played a defining role in our successful delivery of the RPDP7 and IRC project milestones.
Kon Plong Wind Project
- Capacity: 103.5 MV
- Location: Kon Tum province – Vietnam’s Central Highlands region
During 2020
Leveraging our stakeholder organizational capability, we led engagements with EREA (MOIT), EVN and other governmental agencies resulting in successful inclusion of the Kon Plong project into the power master plan (RPDP7)
July 2021
NOVA and our local and international partners, successfully executed project agreements, to secure equity funding from wpd AG (a recognized German international renewable energy developer and operator)
October 2021
In 2024
The project will be put into operation