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|The $150-million solar farm invested by Sunseap is expected to be kick off in mid-2018|
According to newswire Pv-magazine, the firm has recently received the Decision on Land Handover (Phase 1) for the 168 MegaWatt-peak (MWp) solar farm in Ninh Thuan province in the framework of the Vietnam-Singapore Business Dialogue 2018 held in Singapore on April 26.
This was preceded by the issuance of the investment certificate which came after securing approvals from various authorities, including the Government Office, that are required for solar projects exceeding 50 MWp.
Once completed, the project will generate enough electricity to power up to 200,000 households in Vietnam and create permanent employment for over 200 workers. Additionally, it will be allowed to sell power to the national grid at the mandated solar feed-in tariff of 9.35 US cents/kilowatt hour for the next 20 years, provided they start delivering clean energy to the grid by June 2019.
|This project is an example of the collaboration between Vietnam and Singapore to attract investment in the renewable energy sector and demonstrates the Vietnamese government’s support for Singaporean businesses to invest in Vietnam and Ninh Thuan.|
Frank Phuan, co-founder and chief executive officer of Sunseap, said: “This is the largest project to date for Sunseap and we are honoured to be able to participate in the greening out of Vietnam. This Vietnamese solar farm project is in line with our vision to conserve the environment and at the same time contribute to communities across Asia.”
According to Luu Xuan Vinh, Chairman of the Ninh Thuan People’s Committee, the project is one of the largest solar energy projects in Ninh Thuan.
The province has issued the investment certificate and the decision on land handover (phase 1), handing over 130 hectares of land to the project developer. The remaining 56 hectares are expected to be handed over in May 2018.
Earlier on February 14, Sunseap International signed an agreement with InfraCo Asia Development Pte., Ltd. (InfraCo Asia) to jointly develop a 168MW utility-scale solar power project.
Accordingly, InfraCo Asia will take a minority stake alongside Sunseap’s existing partner, CMX RE Canada, while Sunseap International will continue to hold a majority stake in the project.
One of the first large-scale solar projects to go online in Vietnam, the solar farm will tap into Vietnam’s significant solar potential, generate employment opportunities, and contribute to a cleaner energy mix for the country.