Sao Mai Group signs PPA for 210MW solar project in Vietnam

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
HD Bank and Sao Mai Group will work together on the first phase of 104MW. Credit: Sao Mai Group

Vietnamese conglomerate Sao Mai Group has signed an agreement with local financier HD Bank to jointly work on a 210MW solar PV project in Vietnam.

The Sao Mai Solar PV1 project, to be located in An Hao commune, Tri Ton district, An Giang province, will be spread over 275 hectares on the border of Cambodia and requires an investment of VND5,600 billion (~US$242 million). It will be completed in four phases up to 2020.

According to a Sao Mai Group release, the project will be combined with cultivation of high-tech agricultural products for export and the plant will also be developed into a tourist attraction.

HD Bank and Sao Mai Group will work together on the first phase of 104MW to start generating electricity before the feed-in tariff (FiT) deadline of 30 June 2019.

Sao Mai Group has also signed a power purchase agreement (PPA) with Vietnam Electricity Group, the National Electricity Regulatory Center, Electricity Trading Company and Southern Power Corporation with a tariff of US$9.35 cents/kWh. 

Sao Mai has nearly 10,000 employees working in 16 member companies in Vietnam. In recent years, the Group has expanded its operations to the US, Japan, China and South Korea.

Solar Media's recent edition of PV Tech Power featured an in-depth analysis of Vietnam's mysterious solar market.

Read Next

May 10, 2022
Chinese inverter manufacturer KSTAR is set to complete construction of its first Vietnam manufacturing facility next month.
April 28, 2022
Investment firm KKR has launched Aster Renewable Energy, a renewable platform aimed to develop, build and operate solar, wind and energy storage projects in Southeast Asia.
April 27, 2022
Vietnam has cut its 2030 power capacity target by 35GW under its newly agreed upon draft Power Master Plan VIII (PMP8) but is making more room for renewables as it seeks to reduce its reliance on coal.
April 4, 2022
Solar developer ib vogt is partnering with the energy platform of Philippine conglomerate Ayala to develop large-scale PV projects in the Asia-Pacific region.
March 4, 2022
Vietnam’s near-term renewables outlook will be weighed down by regulatory and operational uncertainties stemming from a lack of clear policy and an “underdeveloped grid capacity”, according to Fitch Solutions’ latest report on the market.
February 28, 2022
Vietnam’s planned solar capacity is “too high” and needs to be downgraded, according to local media reports that reference a government communication.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 14, 2022
Napa, USA
Solar Media Events
October 4, 2022
New York, USA