A subsidiary of Ayala Corporation, AC Energy will develop 80 MW PV capacity in Vietnam together with AMI Renewables. The two companies signed EPC and financing agreements with Indovina and RCBC for the project. (Photo Credit: AC Energy, Inc.)
- AC Energy and AMI Renewables to develop solar power projects with an aggregate capacity of 80 MW in Vietnam
- The two companies signed EPC and financing agreements with Indovina and RCBC for the projects
- While Indovina of Vietnam will back the projects in Dak Lak province, RCBC is going with the ones in Khanh Hoa province
- All projects are planned to be constructed with an investment of $83 million and commissioned by June 30, 2019
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Renewable energy company AC Energy of Philippines has expanded its Vietnam project pipeline with another 80 MW of solar power capacity, for which it signed EPC and financing documents. It will develop the projects in partnership with AMI Renewables Energy Joint Stock Co.
It did not identify the specific projects, but said the total 80 MW capacity will be located in Khanh Hoa and Dak Lak provinces, and developed by its joint venture with AMI Renewables.
The projects will be debt and equity financed for a total investment of $83 million. Indovina Bank of Vietnam and RCBC of Philippines will offer non-recourse financing for the projects in Dak Lak and Khanh Hoa provinces, respectively. AC Energy said it will participate with at least 50% economic share.
Like almost every solar power plant announced in recent times in Vietnam, these projects too are planned to be commissioned by June 30, 2019 to avail of the feed-in-tariff (FiT) deadline.
In August 2018, AC Energy announced expanding an under construction 30 MW solar power plant in Vietnam’s Ninh Thuan province to 280 MW. It is developing the project with local BIM Group (see 30 MW Vietnam Project Expansion To 280 MW).