Joint venture to build 112MW duo in Vietnam

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The EPC contract signed in Hanoi paves the way for construction to get underway and conclude by year-end (Credit: IPC-TECH)

Two large-scale plants are poised to break ground in Vietnam’s south after the formal launch of a joint venture in recent days.

EPCs IPC-TECH and Licogi 16 inked earlier this week the contract to build the 62MW My Son 1 and 50MW My Son 2 projects in the Ninh Thuan province.

According to the signatories gathered in Vietnam capital Hanoi, the duo will require total investment of VND2.3 billion (US$98 million).

Their construction should commence this month and wrap up before the end of the year, paving the way for the annual supply of 170GWh in renewable power.

Once delivered, the duo looks set to breathe further life into an already budding pipeline of large-scale PV in Vietnam.

Roll-out of projects is being helped along by feed-in tariff schemes but also hindered by grid constraints, with the Ninh Thuan province facing some of the worst congestion.

Initially a player in the steel market, IPC-TECH has since diversified into other segments and claims to be Vietnam’s top EPC contractor for renewables.

The My Son duo aside, the firm’s solar portfolio includes three other projects under construction – 50MW, 30MW, 15MW – and a separate 50MW plant the firm provides O&M services to.

Read Next

June 14, 2021
Asia boasts a growing number of markets with solar development pipelines in excess of 1GW, a new report by Fitch has found, with the region dominating the consultancy’s project database analysis this year.
June 8, 2021
A round-up of the latest project news, as Mytilineos is chosen as EPC for a project in Uzbekistan, Clenergy forms a deal with the local Kongtong government for 150MW and CleanCapital teams up with CI Renewables for a 29MW portfolio.
June 3, 2021
Oslo headquartered renewable power producer Scatec has announced a new partnership with ACME to develop a 900MW solar power plant in the state of Rajasthan, India.
June 3, 2021
Lightsource BP has secured AU$330 million (US$255 million) to fund the development of two utility-scale solar projects in Australia.
June 1, 2021
Almost two thirds of people working in the solar industry expect to see double-digit sales growth this year, according to initial findings from a Global Solar Council survey.
May 26, 2021
Swiss infrastructure fund manager SUSI Partners has raised US$81 million to tap into the fast-growing renewables sector in Southeast Asia.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021