The Hanoitimes - Singapore-based Sunseap International along with its venture partners on June 8 broke ground for a 168-megawatt (MW) solar power plant in the central province of Ninh Thuan.
Once completed in June 2019, the US$150 million-plant is supposed to supply electricity for up to 200,000 households and create 200 jobs.
Concurrently, the plant will annually supply over 200 kWh of electricity to the national power grid.
Nearly 30 Vietnamese and foreign investors have been approved to build solar power plants in Ninh Thuan, which has potential of tapping some 9,000MW of solar energy, the provincial authorities said at the groundbreaking ceremony.
Vietnam's large-scale solar power industry is proliferating. In April, Thai power producer Gulf Energy Development plans to build a 48MW solar project with investment capital of US$66 million in Trang Bang district, Tay Ninh province with Thanh Thanh Cong Group (TTC). Meanwhile, TTC also recently contracted Japanese engineering group JGC Corporation to build a 49MW project in Gia Lai province.
In January, AC Energy, the energy arm of the Philippines' largest conglomerate Ayala Group, also announced that it was investing in Vietnam's solar power industry through a partnership with Vietnam-headquartered BIM Group to jointly develop over 300 megawatts of solar power projects in Ninh Thuan province.
According to reports from Oliver Massmann of Duane Morris, Mien Trung Energy JSC plans to invest more VND1.3 trillion (US$57.2 million) in a 50MW solar power plant on 60 hectares around Dau Tieng Lake in Tan Chau district, Tay Ninh province. Furthermore, Bien Hoa-Thanh Long Co. plans to build a 30MW solar power plant, worth VND736 billion (US$32.38 million) on 37 hectares of land in Thanh Long commune, Chau Thanh district, also in Tay Ninh.
According to a master plan, solar power is expected to become the main new renewable energy source in the future, with installed capacity to be increased from around six to seven megawatts at the end of 2017 to 850MW by 2020, accounting for 1.6% of the country's power generation and 12,000MW by 2030 or 3.3% of Vietnam's power generation.