GE is poised to develop at least 1GW of wind energy projects in Vietnam, after Monday inking a major development agreement with the country's Ministry of Industry and Trade (MoIT).

 

The Memorandum of Understanding was signed as part of President Barack Obama's visit to the south east Asian country and will see the US-based energy giant work with local developers to develop an expanded wind farm pipeline.

 

Reports said the agreement will aim to deliver 1GW of wind energy capacity by 2025, delivering enough power for 1.8 million Vietnamese households.

 

The deal is likely to strengthen GE's presence in the country's nascent wind energy market, building on its existing wind turbine factory in Haiphong.

 

The news came on the same as the engineering conglomerate announced the launch of a new North American version of its existing 3MW wind turbine platform, unveiling a 60 Hz version of its 3.4 MW machine, with rotor diameter options of 130 or 137 metres.

 

Completing a busy day for the company, GE also announced Monday it plans to invest at least $1.4bn in Saudi Arabia in the coming years in support of the Kingdom's recently announced plans to diversify its economy and curb its reliance on fossil fuel exports. (businessGreen)