Viet Nam News GIA LAI — Krông Pa District in the Central Highlands province of Gia Lai is considered a good area for solar power projects as the temperatures can rise to 40oC. Solar power plant workers are now putting the finishing touches on a number of solar power plants that will connect to the national power grid this month. The 49MW plant with 209,100 solar panels is built on an area of 70.2ha at a cost of VNĐ1.4 trillion (US$60 million). Begun in March 2017, the project is expected to produce 103kWh and earn VNĐ200 billion ($ 8.5 million) per year after being put into operation. Tô Văn Chánh, chairman of the provincial People’s Committee, was quoted by local newspapers as saying that the project would play an important role in socio-economic development and solve the employment problem in the district. The 1,624sq.km area of Krông Pa District has the highest number of sunlight hours in Gia Lai Province, with 1,700 hours per … [Read more...] about Krông Pa: hotspot for new solar energy projects
Crescent dunes solar energy project
Banks race to fund green energy projects
Renewable energy in Viet Nam is expected to grow at 23 per cent annually during 2020-30. — VNA/VNS PhotoDDai Hai Power Investment and Development SJC to fund its VND1 trillion Srepok Solar 1, which has a designed output of 50MW. Commercial banks are rushing to provide loans for green energy projects amid a wave of investment in the growing industry, dubbed a landmark for the country’s renewable energy outlook. Vietcombank has recently approved a VND785 billion (US$33.55 million) loan for the BP Solar 1 project, which has total investment capital of VND1.2 trillion with designed output of 46MW in the south central coast province of Ninh Thuận. The bank last month also signed a contract with the Dai Hai Power Investment and Development SJC to fund its VND1 trillion Srepok Solar 1, which has a designed output of 50MW. Another bank – HDBank – has so far also planned to set aside up to VND7 trillion for the construction of green energy projects from now to … [Read more...] about Banks race to fund green energy projects
Solar energy investors racing for incentives
Viet Nam News HCM City – Investors in solar energy projects are racing to begin operations before June 30, 2019, to qualify for incentives offered by the Government. Opportunities to invest in the solar energy sector have become abundant after Prime Minister Nguyễn Xuân Phúc issued a decision to encourage the development of the sector last year. Under Decision 11/2017/QĐ-TTg, which took effect in June last year, power generated by solar projects will be paid 9.3 cents/kWh (VNĐ2,086) for 20 years, a profitable rate for investors. The price could change for operators going on stream after June 30 next year.Similarly, investors signing power selling contracts with the Việt Nam Electricity Corporation until that date will be eligible for various incentives related to land, capital and import and corporate taxes. According to the Ministry of Industry and Trade’s electricity and renewable energy department, as of the end of last June 100 major … [Read more...] about Solar energy investors racing for incentives
Ninh Thuan province licenses nine solar energy projects
The south central coastal province of Ninh Thuan has granted investment licenses to nine solar power projects with a total capacity of nearly 500 megawatts. Illustrative image - Source: VNA Construction of the plants, which cost an estimated VND12 trillion (US$528 million), will commence in the second and third quarters of 2018 and are scheduled for completion by late 2019. Ninh Thuan Chairman, Luu Xuan Vinh, said on May 31 that he expects the investors to accelerate the construction of these projects to complete them as soon as possible while ensuring the plants’ quality and labor safety during the building process. He affirmed that the provincial authorities would create the most favourable conditions for enterprises and encourage them to invest in renewable energy projects. To date, Ninh Thuan province has had 27 solar power projects with a total capacity of over 1,800 megawatts approved by the Prime Minister and the Ministry of Industry and Trade for inclusion in … [Read more...] about Ninh Thuan province licenses nine solar energy projects
US approves world’s biggest solar energy project
The United States approved on Monday a permit for the largest solar energy project in the world -- four massive plants at the cost of one billion dollars each in southern California. "The Blythe solar power plant will consist of four, 250 megawatt plants, built on public lands in the AFP/Getty Images/File - Solar panels generate electricity in Chicago, Illinois. The United States approved on Monday a permit … sun-drenched Mojave desert," Interior Secretary Ken Salazar said. "When completed the project is expected to generate up to 1,000 Megawatts of energy... That's enough electricity to power up to 750,000 average American homes and to make Blythe the largest solar power plant facility in the world." The total capacity will be roughly equal to the turbine output of a nuclear power plant or a large modern coal-fired power plant, according to Solar Millennium, the company developing the facility. Solar Millennium plans to begin construction on Blythe this year, the … [Read more...] about US approves world’s biggest solar energy project