Modern Energy Management (MEM) has announced the signing of two retainer agreements to carry out early-stage site hunting in Vietnam and the Philippines.
The agreements will see the company undertake site prospecting work and project screening in order to help in reducing interface risks that frequently result in cost overruns and delays. Under the terms of these agreements, MEM will carry out initial site prospecting in the two markets, to search for and assess suitable project sites. In particular, MEM will assess the potential wind resource, constructability and ease of access via roads and ports, and CAPEX factors associated with each potential site.
The company will also consider how its relationships with various partners across Southeast Asia can best be utilized at prospective sites in Vietnam and the Philippines.
Early stage development is one of the most challenging and dynamic phases of renewable energy development, requiring broad expertise to confidently de-risk projects. MEM offers experience in the necessary risk management for clean energy project optimization, with expertise spanning several disciplines and thus bridging the gap between investors and local developers.
“Retainer agreements such as these represent an excellent opportunity for investors to develop financially optimized, de-risked clean energy projects” said Aaron Daniels, Managing Director at Modern Energy Management. “The breadth of our market and technical expertise makes MEM very much a ‘one stop shop’ for those looking to avoid unnecessary expense as a result of unforeseen risks, and we’ll be putting this expertise to work to identify suitable project sites in Vietnam and the Philippines.”