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BIC insures intertidal project
Man Ha
On 16 July BIDV Insurance Corporation (BIC) and Ben Tre Renewable Energy Joint Stock Company (BTRE) signed an insurance contract for the 110 MW Ben Tre V1-3 intertidal wind project.
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As stated in the contract, BIC will insure the installation process of BTRE V1-3 Ben Tre Wind Power Project – an offshore wind power project in Ba Tri district, Ben Tre province with a capacity of 110 MW and a total investment of trillions VND.
The project includes two phases: the first phase with 30 MW and the second phase with 80 MW, to be implemented after the first phase is completed.
Ben Tre V1-3 wind power project is one of a number of projects in a plan to assist the Vietnamese government to achieve a wind power capacity of 2,000 MW by 2025 and in the campaign to convert Vietnam’s energy industry into a low emission one.
At the signing ceremony, BIC general director Mr. Tran Hoai An said that installation and construction insurance is one of BIC's strongest products. With
Leaders of BIC, BIDV Ha Thanh and BTRE at the insurance contract signing
confidence and high quality service, BIC has committed to accompany BTRE from the construction and installation process through to project completion. According to Mr. Le Huy Hoang, director of BIDV Hanoi Branch, the BIDV system, particularly the BIDV Hanoi, consistently devotes attention and resources to best serve customers. In terms of renewable energy, BIDV is a vanguard commercial bank in Vietnam financing projects in this area. As such, BIDV Hanoi and BTRE have a mutual understanding and successfully signed a contract to finance the project. BIC’s participation in insurance for the project installation process will help the parties feel secure and have more confidence in the success of the
project. Mr. Duong Son Tung, BTRE director, stated his high appreciation of the professionalism and devotion of BIC in arranging an insurance contract for the project. “With the professionalism and cooperation from BIDV and BIC, BTRE believes the Ben Tre V1-3 wind power project, phase by phase will be safely constructed and put into operation on schedule,” Tung affirmed.
