As partners developing 112 MW solar power capacity in Vietnam, Licogi 16 will procure, supply materials and equipment, and carry out construction and installation of the projects, while IPC will provide project design and management services. (Photo Credit: Licogi 16 Joint Stock Company)
- Licogi 16 and IPC of Vietnam have launched a joint venture that will undertake EPC services for 112 MW solar power capacity in the country
- The project capacity is divided between 2 projects of 60 MW and 52 MW in Ninh Thuan province
- Both projects represent over VND 2,00 billion ($98.66 million) investment
- Grid connection and commissioning is expected by January 15, 2020 when the entire capacity will generate more than 170 million kWh of clean energy annually
A joint venture between infrastructure developer Licogi 16 and real estate developer IPC-International Trade Joint Stock Company has signed an EPC contract for 2 solar power projects in Vietnam, with 112 MW cumulative capacity. One of the projects is the 62 MW My Son 1 and another the 52 MW My Son 2 solar plant.
While Licogi 16 will procure and supply materials and equipment along with carrying out construction and installation of the projects, IPC will be in charge of project design and management.
Located in Ninh Thuan province of Vietnam, the solar power plants are expected to cost an investment of more than VND 2,300 billion ($98.66 million). Construction period is likely to last till December 31, 2019 with commercial operations scheduled to commence by January 15, 2020. This 112 MW capacity will contribute more than 170 million kWh of clean energy to the national grid annually, the Vietnamese companies said.
According to Vietnam Investment Review (VIR), Licogi 16 targets to generate 370 MW of solar power capacity by 2020 and IPC is a sub-contractor for 3 other solar farms, namely the 50 MW AMI Khanh Hoa, 30 MW BMT and 15 MW Gia Lai-Chu Ngoc projects.
Vietnam’s attractive feed-in-tariff (FIT) scheme valid till June 30, 2019 is under consideration to get an extension till June 30, 2021 but with some changes (see Vietnam FIT May Get Extension).