The ceremony for Vietnam’s largest solar farm to-date was held at the 186 hectares site in Ninh Thuan province on Vietnam’s south-central coast.
Sunseap’s 168 MW solar farm is the largest solar collaboration between Singapore and Vietnam and the first solar project in Vietnam led by a Singaporean company. The farm is expected to reach commercial operation by June 2019 and once completed, will generate enough electricity to power up to 200,000 households in Vietnam and is expected to create permanent jobs for over 200 local workers.
Sunseap, together with its joint-venture partners InfraCo Asia, an infrastructure development and investment company of the Private Infrastructure Development Group, and CMX Renewable Energy Canada Inc., a solar developer based in Canada, will be allowed to sell solar power generated by its solar farm to Vietnam’s national grid at the mandated solar feedin tariff of 9.35 US cents/kilowatt hour for the next 20 years, provided they complete the delivery of clean energy to the grid by June 2019.
Frank Phuan, Co-Founder and Director of Sunseap, said, “We are excited to reach another important milestone in this solar project for Vietnam and for Sunseap. It is a testament to the government’s commitment to promoting renewable energy and to supporting foreign investments in this sector.”
Enterprise Singapore, the Singaporean government agency championing enterprise development, supported Sunseap in developing its new technologies and helped built its manpower capabilities in its expansion into Southeast Asia. Enterprise Singapore supported Sunseap in connecting the company with industry stakeholders, including local and international financiers.
Tan Soon Kim, Assistant Chief Executive Officer, Enterprise Singapore, said, “We have seen traction in renewable energy projects in Vietnam, particularly in the solar energy sector. We hope to partner more companies to tap these growing opportunities in the market. The recent Memorandum of Understanding we have signed with Vietnam Electricity and Renewable Energy Authority aims to bring in more potential downstream opportunities for Singapore companies.”
