Hanwha Group teams with BCG to develop 100 MW Vietnamese solar project

Hanwha Group teams with BCG to develop 100 MW Vietnamese solar project

Hanwha Group, the parent company of Hanwha Q Cells, has signed a joint
operation investment agreement with a Vietnamese multi-disciplinary
investment firm to build a 100 MW solar PV project in Vietnam.

Bamboo Capital Joint Stock Company (BCG) Bang Duong will arrange capital
sourcing, secure permit and implementation rights, and will negotiate the
power purchase contract for the solar energy generated at the plant, which
will be located in Vietnam's Thanh Hoa district in long An.

Hanwha Group, for its part, will provide all technology equipment and
undertake the engineering, installation and international financing for the
project. The total level of investment is $100 million, and the 125 hectare
solar plant is scheduled to be commissioned in early 2019.

BCG Bang Duong estimates that Vietnam could theoretically install between
2-5 GW of residential and commercial solar PV capacity alone over the next
decade, while the terrain could support at least 22 GW of ground-mounted
solar, mostly in the sunny, less mountainous south.

Recent solar development activity in Vietnam has largely centered on its
suitability as a manufacturing hub for Tier-1 Chinese firms, but there have
been stirrings of a domestic market emerging.

Earlier this year the Vietnamese government introduced a 20-year FIT based
on a reasonable rate of VND 2,086 ($0.09)/kWh, as well as a net metering
scheme for residential rooftop solar. Early teething problems aside, these
policies appear to have begun attracting foreign investment. In April, Tata
Solar of India announced a 100 MW solar project in Binh Phuoc, while
Vietnamese utility Electricity of Vietnam (EVN) has also unveiled plans to
develop 350 MW of solar PV capacity.

TTC Group, which is a business conglomerate headquartered in Ho Chi Minh
City, is also confident of installing 1 GW of solar capacity across the
country over the next few years, provided it can secure the necessary
capacity.

Hanwha Group's involvement delivers yet more fresh foreign impetus into
Vietnam's fledgling solar sector, as noted by BCG board chairman, Nguyen Ho
Nam: "To assess the importance, advantages and benefits of renewable energy
sources in response to the increasing demand for electricity, BCG has chosen
to promote investment in renewable energy projects for the long-term
development strategy of the company. We believe with the experience and
technology in the field of renewable energy of Hanwha Group, the factory in
Thanh Hoa, Long An, when put into operation, will contribute to increase the
power supply for Vietnam, mitigate climate change, environmental protection
and sustainable socio-economic development."

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Link to Original Article:
https://www.pv-magazine.com/2017/06/30/hanwha-group-teams-with-bcg-to-develo
p-100-mw-vietnamese-solar-project/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com