May 24 (Renewables Now) - Oslo-based Scatec Solar ASA (OSL:SSO) is teaming up with MT Energy (MTE) to develop 485 MW of solar photovoltaic (PV) projects in Vietnam.
More specifically, the Norwegian company has entered into a strategic collaboration agreement with the Vietnamese energy firm that covers the development, financing, construction and operation of three large-scale PV projects in Binh Phuoc, Quang Tri and Nghe An provinces. Each of them is expected to be executed under a new feed-in tariff (FiT) regime that should be launched later in 2019, the announcement says.
“With this partnership we take the first step in positioning Scatec Solar for the growing solar market in Vietnam,” the company’s CEO Raymond Carlsen said, adding that Scatec Solar sees “tremendous” solar potential in the country.
The Norwegian company will provide the equity funding for the projects and also take care of engineering, procurement and construction (EPC) work, as well as the plant’s operation and maintenance.