ACEN joint venture plans energy storage system in Vietnam
AMI AC Renewables, through its subsidiary AMI Khanh Hoa, has signed a memorandum of understanding with Honeywell International, Inc. to collaborate on a 7.5-megawatt-hours battery energy storage system (BESS) project in Khanh Hoa, Vietnam.
AMI AC Renewables is a joint venture between ACEN Corp. and AMI Renewables.
In a statement on Wednesday, ACEN said the pilot project, which was co-funded by a grant from US Mission Vietnam, will demonstrate how energy storage can help Vietnam integrate more renewables into its power system.
The project plans to use an energy storage system of Honeywell and integrate it into a 50-megawatt-peak solar farm, which is operated by AMI Khanh Hoa.
“The success of the BESS project at AMI Khanh Hoa will be among the achievements for the bilateral cooperation relationship in technological, technical, and economic development between the US and Vietnam, and help contribute to Vietnam’s target of Net Zero emissions by 2050,” Nguyen Nam Thang, AMI AC Renewables chief executive officer, said in a media release.
AMI AC Renewables has been developing and operating renewable energy projects in Vietnam, including the 252-megawatt (MW) wind project in Quang Binh and the 80-MW solar plants in Khanh Hoa and Dak Lak.
In 2021, AMI AC Renewables received a grant of $2.9 million from the US Mission Vietnam to develop the project.
“Battery energy storage solutions are vital to advancing sustainability efforts. We look forward to collaborating with AMI AC Renewables to extend renewable energy availability from the Khanh Hoa solar farm beyond hours when there is no sunlight,” said Ramanathan Valliyappan, general manager of Honeywell Process Solutions Asia Pacific.
Energy storage is being put forward as a key element of the energy transition partnership between Vietnam and its international partners to support Vietnam’s net zero ambition by 2050.
At the local bourse on Wednesday, ACEN shares closed unchanged at P6.07 each. — Ashley Erika O. Jose
