TSV Investment's Ambitious Onshore Wind Endeavor in Vietnam

K2 Management was appointed as the owner’s engineer for two significant onshore wind projects in Vietnam, the 175 MW Kông Yang and 175 MW Cư An wind farms.

These projects, developed by TSV Investment, represent a substantial step forward in Vietnam's renewable energy sector, aligning with the Government of Vietnam's ambitious renewable energy goals. Supported by the United States Agency for International Development (USAID) under the USAID INVEST initiative, these projects are expected to reach commercial operation in 2023.

We leveraged our extensive international experience and local knowledge to provide top-tier engineering consultancy services. Our role encompassed several critical areas:

1. Energy Yield Assessment & Wind Turbine Selection:
   We conducted detailed energy yield assessments to maximize the potential energy output of both the Kông Yang and Cư An projects. This analysis informed the selection of wind turbine generators, ensuring the most efficient and cost-effective technology was deployed, ultimately optimising revenue.

2. Procurement Process Management:
   By overseeing the procurement process, we ensured that all contracts and materials were sourced efficiently and cost-effectively. This process not only minimized costs but also mitigated risks associated with delays and budget overruns.

3. Financial Performance Visibility:
   Providing TSV with third-party visibility on the projected financial performance was crucial. Our analysis helped de-risk the projects by offering clear, data-driven insights into expected returns and potential risks before construction commenced. This transparency was key in securing the confidence of investors and stakeholders.

Jamey Hadden, Director of International Operations, TSV Investment added: “Our collaboration with K2 Management is the result of an important evolution in TSV’s approach to the roles and responsibilities of a Vietnamese renewable energy developer. TSV offers more depth to international standards of project de-risking and financial performance transparency, as this appointment demonstrates.”

Patrick Architta, President, K2 Management Asia Pacific said: “We are delighted to have been selected by USAID INVEST to undertake this owner’s engineer role for a developer that is taking its responsibility as a developer and investor in Vietnamese onshore and offshore wind seriously. K2M has a track record of supporting wind projects in Vietnam, from their early development phase, through construction and then onto asset management. I’ve no doubt that our local knowledge, combined with our international experience will ensure the successful delivery of these two exciting projects."