Vietnam's Gelex finds partner for 50-MWp solar project

Vietnam Electrical Equipment JSC, also known as Gelex, has signed a pact with Thailand’s Power Solution Technologies PCL (BKK:PSTC) to co-develop a 50-MWp solar project in Vietnam’s Ninh Thuan province.

The parties are getting ready to commence construction in April, with plans to complete the solar power plant in May 2019. Commercial operations are expected to begin in June.

Under the terms of the newly-signed memorandum of understanding (MoU), the Thai company will contribute a portion of the capital needed to execute the project and will also take care of technical aspects. The total cost of the plant is estimated at VND 1.245 trillion (USD 54.6m/EUR 44.4m).

The project in Thuan Nam district is one of 18 schemes with a combined capacity of 1,000 MWp that were approved by Ninh Thuan province last November, the announcement says.

(VND 10,000 = USD 0.438/EUR 0.357)

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