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More solar energy projects registered after PM decision

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 Investors have registered solar energy projects in a rush following PM’s Decision No 11 on encouraging investments in solar energy. 

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Hero Future Energies Asia from India, for example, had a working session with Binh Phuoc authorities on the development of a solar power plant in the province.

Binh Phuoc is one of 20 localities with high levels of heat radiation and hours of sunshine, favorable for solar energy development.

The Gia Lai provincial authorities have approved the Krong Pa solar power project registered by Gia Lai Electricity JSC. With the total investment capital of VND1.428 trillion, the 49 MW plant would use 76 hectares of land and is expected to become operational by the second quarter of 2019.

The Ba Ria – Vung Tau People’s Committee has sent a dispatch to the Energy Directorate General, asking to examine and submit to the PM the solar power project in Chau Duc IZ. If approved, the 100 MW plant would be added to the national electricity development program.

The project will be developed by Halla E&C and Hyosung Group from South Korea with investment capital of VND1.858 trillion for the first phase.

Thanh Thanh Cong Group plans to spend $1 billion to develop 10-20 solar power projects. Meanwhile, Thien Tan Investment & Construction has proposed a $2 billion project in Ninh Thuan province.

Investors are not only eyeing provinces in the central region, where there is strong wind and sunshine, but also plan to set up projects in Mekong Delta.

In September 2017, SY Group from South Korea signed an MOU with the Bac Lieu investment department on cooperation to develop a solar power plant and aquaculture worth $450 million.

According to SY’s president Hong Young Don, the project would be implemented in two stages. In the first stage, the plant would have the capacity of 50 MW.

In Can Tho, Dragon Capital, an investment fund, is taking first steps in its plan to pour VND1 trillion at least into a project with the capacity of 40 MW in the first phase of development.

In Long An province, the joint venture of BCG Bang Duong and Hanwha is moving forward with a 100 MW plant project, capitalized at $100 million. 

Meanwhile, ASEAN Energy JSC has announced a plan to spend $1 billion on the solar power projects in Hau Giang province.

According to USAID, hundreds of solar power projects had been registered in Vietnam by July 2017 with the total capacity of 17,000 MW.

Under Decision 11, since June 1, 2017, EVN has the responsibility of buying all the electricity output to be generated by solar energy projects at the price of VND2.086 per kwh, or 9.35 cents. 

 

Source: VNN

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