BIC Insures Vietnamese Intertidal Project

Vietnam’s BIDV Insurance Corporation (BIC) and Ben Tre Renewable Energy Joint Stock company (BTRE) have signed an insurance contract for the 110 MW Ben Tre V1-3 intertidal wind project.

BIC, part of the Bank for Investment and Development of Vietnam (BIDV), will provide insurance during the installation of the BTRE V1-3 Ben Tre wind farm.

Located in Ba Tri district, Ben Tre province, the wind farm will be developed in two phases.

Phase 1, with the capacity of around 30 MW, will feature seven Vestas V150-4.2 MW wind turbines, with the installation expected to start in the second quarter of 2021. Sigma Engineering JSC is the EPC contractor for Phase 1.

The construction of the 80 MW Phase 2 will follow after the completion of Phase 1. The project is valued at around VND 4 trillion (around EUR 151 million).

Duong Son Tung, Director of Ben Tre Renewable Energy Joint Stock Company, said: “With the professionalism and cooperation from BIDV, BIC, I believe the V1-3 Ben Tre Wind Power Plant project will be safely constructed and put into operation on schedule. Following the success of Phase 1 of the Project as well as the good cooperation platform between BIC, BIDV and BTRE, the V1-3 Ben Tre wind power plant will soon be implemented phase by phase.”