Vietnam: TTC to develop 20 solar power plants

Vietnam: TTC to develop 20 solar power plants

The Thanh Thanh Cong Group (TTC Group) will develop 20 solar power projects
with a capacity of 1,000 MW by 2020, Chairman Mr. Dang Van Thanh said at the
group's Conference of Energy Sector Customers held on June 30.

Solar energy is one of the four major sectors in TTC's renewable energy
portfolio, along with hydropower, wind power, and thermal power.

It has already invested in hydropower and 17 thermal power plants, and from
now to 2020 will develop wind and solar power.

According to Mr. Thai Van Chuyen, CEO of TTC, the group has selected
development projects such as the Thanh Long solar power plant on an area of
37 ha, the TTC Tan Hung solar power plant on 68 ha, and the Tanisugar Tan
Phu solar power plant on 75 ha, with investment capital totaling about $1
billion.

A representative from the International Finance Corporation (IFC) said that
in recent years, the world has witnessed $200 billion flowing into renewable
energy. Investment in wind power is quite stable while investment in solar
energy has increased significantly.

The solar energy industry is generally concentrated in key markets such as
Europe, China, Japan, and the US.

In Vietnam, the main renewable energy source is hydropower. It is projected
that by 2025, it will need to invest $74 billion in power plants to meet its
growing demand. The government has pledged to increase electricity capacity
by 14 per cent per year during the 2015-2030 period.

"The energy sector in Vietnam has a lot of investment potential because
future demand is very high," said the IFC representative. "Therefore, the
IFC is ready to provide financial and other technical support and will call
on partners to invest in the energy sector, especially clean energy."

TTC is the leading company in Vietnam's sugar industry, as it holds a
controlling stake in many large sugar companies, including the Thanh Thanh
Cong Tay Ninh Sugarcane JSC, Gia Lai Hydropower Sugar, Bien Hoa Sugar (BHS),
Ninh Hoa Sugar (NHS), and the Phan Rang Sugar Company.

In March, Thanh Thanh Cong Tay Ninh and the Bien Hoa Sugar officially
completed a merger to create the largest sugar company on Vietnam's stock
market.

The TTC Group held an extra-ordinary general meeting for 2016-2017 on May 25
and 26 to approve its merger policy and plans to exchange all existing BHS
shares with additional shares of TTCS.

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Link to Original Article:
http://vneconomictimes.com/article/business/ttc-to-develop-20-solar-power-pl
ants

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com