June 8 (Renewables Now) - Sunseap International has today held a groundbreaking ceremony for Vietnam's largest solar farm, a 168-MW project in Ninh Thuan province, the unit of Singaporean clean energy company Sunseap Group said.
Once completed, the USD-150-million (EUR 127m) facility is expected to produce enough electricity to power up to 200,000 Vietnamese households.
Sunseap and its joint venture partners, InfraCo Asia and CMX Renewable Energy Canada Inc, will be able to sell the solar power generated to Vietnam's national grid at a feed-in tariff (FiT) of USD 0.0935 per kWh over 20 years, if they manage to bring the solar park online by June 2019.
"Within eight months of receiving the decision on investment policy, the investor has showed great efforts to acquire all relevant permits and meet all the necessary conditions so that today, this 168 megawatt solar power plant can officially break ground," commented Pham Van Hau, vice chairman of Ninh Thuan People's Committee.
According to the statement, the solar farm is the first solar project in Vietnam led by a Singaporean company. Tan Soon Kim, assistant chief executive officer of Singaporean government agency Enterprise Singapore, said that a recent memorandum of understanding the agency has signed with Vietnam Electricity and Renewable Energy Authority seeks to create more potential downstream opportunities for Singaporean companies.
(USD 1 = EUR 0.849)