The provincial government of Daklak in Vietnam has approved development of solar power projects worth $3.3 billion. The government has granted licenses and signed memorandums of understanding for the projects, reported Reuters. The investment would result in close to 4 GW.
The largest capacity is reported to be a 2,000 MW solar power project that Vietnamese private firm Xuan Thien Daklak will be working on. It has received a provincial government license to invest $2.2 billion on the project to be located in Daklal province in the Central Highlands.
US based AES Corp. plans to invest $750 million to set up a solar plant between 300 MW to 500 MW.
South Korea's Solar Park Global and Vietnamese Long Thanh Infrastructure Development and Investment Company may invest $45 million and $308 million, respectively. Long Thanh will be looking at developing a 250 MW solar power plant.
As per the revised National Power Development Masterplan (PDP VII), the country wants to increase the solar power capacity to 850 MW by 2020, 4,000 MW by 2025 and eventually scale it up to 12,000 MW by 2030.
Vietnam is eliciting interest from several foreign companies. China's Trina Solar started solar panel production at its Vietnam factory in January 2017 (see Trina Solar Starts Vietnam Factory). Fellow Chinese manufacturer JA Solar too broke ground at its manufacturing facility in Vietnam (see JA Solar Starts Work On Vietnam Factory). In fact, several of the top Chinese tier 1 module manufacturers have OEM agreements with Vietnamese module maker Vina Solar
Another US based company Natcore Technology Inc., has plans to set up a 200 MW solar park, along with a laboratory facility and a solar panel manufacturing facility (see 200 MW Solar Park In Vietnam).