Vietnamese infrastructure firm BCG Băng Dương and Hanwha Group have agreed to make a joint investment of nearly $100m in a 100MW solar power plant project in southern Vietnam.
The solar power plant will be built in Thanh Hoa district in Long An province on an area of 125 hectares. Construction of the new Vietnamese solar plant has been planned to begin in the first quarter of 2018.
The partners are planning to make the Long An solar power plant ready for production in 2019.
BCG board of directors chairman, BCG joint operation representative Nguyen Ho Nam said: "To assess the importance, advantages and benefits of renewable energy sources in response to the increasing demand for electricity, BCG has chosen to promote investment in renewable energy projects for the long-term development strategy of the company.
“We believe with the experience and technology in the field of renewable energy of Hanwha Group, the factory in Thanh Hoa, Long An, when put into operation, will contribute to increase the power supply for Vietnam, mitigate climate change, environmental protection and sustainable socio-economic development."
BCG’s role in the partnership is to arrange capital sources, handle procedures of project establishment permit and study. It will also take care of the project implementation alongside negotiation and signing of the EVN power purchase agreement.
On the other hand, its South Korean partner Hanwha will provide technology equipment, engineering and installation. It will also arrange international funding for the Vietnamese solar project.
With the advantage of being one of the most sun radiator distributed countries, Vietnam is estimated to have a huge potential for solar energy.
Image: BCG Bang Duong joint operation signing investment cooperation agreement with Hanwha Group (Korea) in Long An. Photo: courtesy of BCG Bang Duong.