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Siemens Gamesa signs $400 million wind gear agreement with Vietnam's BCG Energy

Reuters
FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio

HANOI (Reuters) - Siemens Gamesa Renewable Energy has signed a preliminary agreement to supply wind turbine gear worth up to $400 million to Vietnam's BCG Energy, Vietnam's government said on Monday.

The memorandum of understanding is part of the Vietnamese firm's move to develop wind turbines with capacity of over 500 megawatts, the Ministry of Industry and Trade said in a statement, adding the deal was signed on the sidelines of the United Nations COP26 summit.

(Editing by Martin Petty)