Vietnam’s TTC to start work on 150MW of solar in first half of 2018 - reports

Facebook
Twitter
LinkedIn
Reddit
Email
Back in June, TTC said it planned to spend up to US$1 billion on 10 to 20 solar parks with a combined capacity of around 1GW. Flickr: M_M

Ho Chi Minh City-based conglomerate TTC Corp plans to start constructing three solar projects, totalling 150MW of capacity, in Vietnam in the first half of next year.

Reuters reported TTC’s chairman Dang Van Thanh confirming that the projects will be located in the central and southern provinces of Vietnam, requiring investment of roughly VND3 trillion (US$132 million).

Two of the projects in central Thua Thien Hue province and the Central Highlands province of Gia Lai are due to start in Q1 2018, with a third in Tay Ninh province to start in Q2.

Back in June, TTC said it planned to spend up to US$1 billion on 10 to 20 solar parks with a combined capacity of around 1GW.

This has now been narrowed down to 600-700MW by 2020 and 1GW by 2025. As part of this, the company has partnered with renewable energy developer and asset manager Armstrong South East Asia Clean Energy Fund and the International Financial Corporation, which now have a shared 36% stake in TTC’s energy unit.

Vietnamese government officials have consistently bigged up the huge pipeline of projects in development in Vietnam, but with the solar PPA under scrutiny by international law firms and financiers, the industry has been keenly watching to see if large-scale projects do start to come online.

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

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event