Vietnam province to build 30MW solar PV plant

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The large-scale PV plant brings Vietnam one step closer to its aim of generating 10% of electricity from renewable energy sources by 2030. Source: Flickr/guido da rozze

Vietnam is set to build a brand new 30MW solar PV plant in the north-central province of Thanh Hoa.

The plant is being developed as a joint venture between local energy companies Song La Energy JSC and Song Lam Investment & Construction and is being entirely domestically-funded, with a total investment of VND800 billion (US$35 million). Son La Energy JSC’s Sinh Tien Tran told PV Tech that the companies are still in the process of selecting banks to finance the project.

However, the two firms will directly finance 30% (VND242 billion) (US$10.6 million) of the cost, while the remaining 70% will be covered by commercial banks.

Song La Energy JSC told PV Tech that construction is expected to start in Q4 2017 with commercial operation anticipated for Q4 2018. The project will be located on 650,000 square meters of land in the Yen Dinh District, around 160km south of Hanoi.

The plant will also be comprised of 90,640 c-Si polysilicon modules, which Song La Energy said it selected for their popularity in the international market, as well as their competitive purchase and installation price, durability and low annual generation attenuation. 

Vietnam’s solar market

The large-scale PV plant brings Vietnam one step closer to its aim of generating 10% of electricity from renewable energy sources by 2030. Local authorities have stated that the country’s burgeoning renewable energy market is generating a profit for investors as they join Vietnam’s push towards clean energy.

“During operation, the output generated by the farm shall be a clean significant power addition to power demand of Thanh Hoa province in particular and the surrounding area in general. The farm construction is in accordance with government orientation of clean power development and has a part in reduction of pollution, carbon emission caused by fossil fuels,” said Sinh Tran Tien.

The country's electricity demand is expected to grow 13% annually over the next four years.

Vietnam also recently confirmed its long-awaited feed-in tariff (FiT) scheme which will open 1 June 2017 to 30 June 2019.

“The country's feed-in tariff regime plays an important role as leverage for solar development to take full advantage of Vietnam's solar potential,” added Tien.

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

PV Tech Premium
August 3, 2021
This installment of PV Tech’s European solar special uncovers the emerging markets of Europe’s PV sector, including Poland, Denmark and Greece.
August 2, 2021
Spanish oil and gas major Repsol has increased its renewable energy target from 5.2GW to 6GW and its Low Carbon generation objective from 7.5GW to 8.3 GW by 2025 after posting strong financial results for Q2 which saw the company largely return to pre-pandemic levels
PV Tech Premium
August 2, 2021
In today’s installment of PV Tech’s ‘European solar under the spotlight’ feature, we assess the potential and key drivers behind Europe’s leading markets in Germany, Spain and the Netherlands.
PV Tech Premium
July 30, 2021
Not only will solar be the dominant source of new power generation in Europe by 2025, cementing its position as the third largest market for solar globally, but the continent has placed the asset class at the very heart of its COVID-19 recovery strategy. As part of a week-long special report on PV Tech Premium, Liam Stoker, Edith Hancock and Jules Scully explore the drivers for solar in Europe, the key markets and the challenges that remain.
July 29, 2021
US residential solar installer Sunnova said it was investing in its end-to-end solar services to cater for customers demanding more from their rooftop installations.
July 27, 2021
Canadian Solar has closed a BRL500 million (US$100 million) financing facility to develop a Brazilian solar portfolio claimed to be the country’s largest, while also giving it the option to hold built solar assets for longer.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021