Sunseap International the largest and most established clean energy solutions provider in Singapore, and Infra Co, a Singapore infrastructure development and investment company will jointly develop a solar power project in Vietnam. Sunseap International, the global arm of clean energy provider Sunseap Group in Singapore, and InfraCo Asia Development said that they have signed an agreement to develop the 168 megawatt-peak (MWp) utility-scale solar power project.
Located in the southern-central coast Ninh Thuan province, the solar project is one of the first large-scale solar projects in the country, along with a solar power project jointly developed by Philippine’s AC Energy and Vietnam’s BIM Group last month. The province has some of the best solar conditions in the country.
Sunseap International will continue to hold a majority stake in the project, while InfraCo Asia will take a minority stake alongside Sunseap’s existing partner, CMX RE Canada. The project is expected to reach commercial operation by June 2019.
According to the Vietnamese government’s targets, 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 megawatt (MW) at the end of 2017 to 850 MW by 2020, accounting for 1.6 per cent of the country’s power generation and 12,000 MW by 2030 or 3.3 per cent of Vietnam’s power generation. The annual amount of electricity generated is expected to be able to power up to 200,000 households in the country. (Source: The Straits Times)