Vietnam’s Ninh Thuan province will host a 168 MW PV plant on the south-central coast of the country. This is one of the first large-scale PV projects in Vietnam. (Photo Credit: Dinkum/www.goodfreephotos.com)
- Sunseap Group and InfraCo Asia will form a joint venture to develop a 168 MW solar power project in Vietnam
- Sunseap will own the majority stake in the project, with InfraCo and CMX RE Canada as minority shareholders
- The project will be located in Ninh Thuan province and is expected to be commissioned by June 2019
- Once operational, it is expected to generate enough clean power to electrify up to 200,000 homes
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(13. November 2018)
Singapore-based solar power project developer and operator Sunseap Group has signed an agreement to set up a joint venture with InfraCo Asia Development. Together they will set up a 168 MW utility-scale PV project in Vietnam.
Sunseap Group has entered the agreement through its global unit, Sunseap International, which targets markets in Southeast Asia and the Asia-Pacific region. In Aug. 2017, Sunseap Group secured investment from oil major Shell, which invested in the Singapore based clean energy solutions provider through its corporate venturing arm (see Shell Invests In Singapore PV Firm). InfraCo Asia, which is part of the Private Infrastructure Development Group, is an infrastructure-development firm also based in Singapore.
InfraCo Asia will provide its leadership expertise and funding for the development phase of the project. Sunseap will be the majority owner of the project, while InfraCo Asia will take a minority stake alongside another another existing partner of Sunseap, CMX RE Canada. It will be Sunseap’s first project in Vietnam.
Vietnam’s Ninh Thuan province will host the 168 MW PV plant on the south-central coast of the country. This is one of the first large-scale PV projects in Vietnam, according to the two companies. Upon commissioning in June 2019, it is expected to generate enough clean power for up to 200,000 homes.
Over 200 jobs will be created during the construction phase of this project, and at least 30 long-term jobs will be sustained when it is operational.
“Projects like Ninh Thuan solar create a ‘demonstration effect’ that serves as a beacon for future development,” said Allard Nooy, CEO of InfraCo Asia. “InfraCo Asia is proud to serve as a clean energy pioneer in Vietnam and throughout the South and South-East Asia regions,” he added.
Vietnam is aiming to have an installed solar power capacity of 850 MW by 2020, accounting for 1.6% of total power generation. The country also has plans to increase its installation figures to 12 GW by 2030. To make solar interesting and attractive, the government has fixed the tariff for generated solar power from projects commissioned by June 30, 2019 at 2.086 VND ($0.09) per kWh (see Vietnam Introduces Solar Incentives).