Advertisement
Advertisement

In Depth

Tender Tracker: Insights Into 1200 MW SECI Auction Results ISTS IV

14 June 2019
Tender Tracker: Insights Into 1200 MW SECI Auction Results ISTS IV

The recent tender auctions of 1200 MW by SECI saw an active participation from 6 developers. Ayana Renewable (CDC), Renew, Azure & Mahindra Susten won the entire bidded capacity. Avaada Energy won 50MW of the 350MW bidded capacity. Company Name Status Bid Capacity Awarded Capacity Quoted Tariff...

India Solar Policy Update - May 2019

12 June 2019
India Solar Policy Update - May 2019

Below is SolarQuarter's brief analysis of the latest updates on solar regulations & policies from various states in India.

Pooled Structures And InvITs To Boost Market Access For Developers

12 June 2019
Pooled Structures And InvITs To Boost Market Access For Developers

Nuanced structures in pooling of assets such as obligor/co-obligor or Infrastructure Investment Trust would propel refinancing of the infrastructure assets, says India Ratings and Research.

India Solar Policy Update - April 2019

13 May 2019

Below is SolarQuarter's brief analysis of the latest updates on solar regulations & policies from various states in India.

Solar Energy: The Perfect Match For EVs

06 May 2019
Solar Energy: The Perfect Match For EVs

EVs and Solar as a supporting source of power. Recently there has been much hype around EVs what with the Indian government pledging to replace petrol and diesel cars with EVs by 2030.

Innovative Solar Applications & Latest Technology Breakthroughs

06 May 2019
Innovative Solar Applications & Latest Technology Breakthroughs

Solar skin design Sistine Solar, a Boston-based design firm, is making major strides with the concept of aesthetic enhancement that allow solar panels to have a customized look. The MIT startup has created a “solar skin” product that makes it possible for solar panels to match the appearance of a ro...

Why Is Mono Silicon Wafer Getting Bigger And Bigger?

06 May 2019
Why Is Mono Silicon Wafer Getting Bigger And Bigger?

In recent years, PV technologies have been developing rapidly. With respect to cell, the high-efficiency PERC, bifacial cell and black silicon technologies have started mass production gradually, while N-type and heterojunction technologies have obtained footholds in the market; with respect to modu...

Optimistic Outlook For Indian Solar Market

06 May 2019
Optimistic Outlook For Indian Solar Market

Fitch Solutions Macro Research on Tuesday said it is maintaining a positive outlook on India’s renewables growth, excluding hydro power, irrespective of general elections as both the incumbent and the opposition support clean energy.

India Looking At $500 bn Investment In Renewable Energy Generation By 2028

06 May 2019
India Looking At $500 bn Investment In Renewable Energy Generation By 2028

The global think-tank said in a special report the long-term outlook is favorable for renewable energy in India

« »
Advertisement

CONVERSATIONS

« »
advertisement

UPCOMING EVENTS

Advertisement

SolarQuarter Tweets

Tender Tracker: Insights Into 1200 MW SECI Auction Results ISTS IV https://t.co/qluWEzZDgg Solarquarter… https://t.co/FAtyZ57rla
Friday, 14 June 2019 11:20
Auction Results: 1200MW ISTS Connected Solar PV Projects (ISTS-IV) Solarquarter tendertracker solar auction… https://t.co/7IDgiG8AZr
Friday, 14 June 2019 10:57
EV100's EV Technology Awards, Who Will Win? - https://t.co/QHiiwL5Hgi
Wednesday, 05 June 2019 10:24

Sunseap receives approval for US$150 million solar farm, largest in Vietnam

Sunseap International, a unit of Singapore’s leading clean energy provider Sunseap Group, announced today that it has received the green light for a US$150 million solar farm in Vietnam, the largest in the country to-date.

The issuance of the Decision on Land Handover (Phase 1) for the 168 MegaWatt-peak (MWp) solar project in the Ninh Thuan province coincided with the Vietnam – Singapore Business Dialogue 2018 held in Singapore with Vietnam’s Prime Minister, His Excellency Nguyen Xuan Phuc as Guest of Honour.

This was preceded by the issuance of the Investment Registration Certificate which involves a detailed process involving approvals from various authorities including the Prime Minister Office, which is required for solar projects exceeding 50 MWp.

The project represents the largest solar collaboration between Singapore and Vietnam and is expected to break ground in mid-2018 before going into commercial operation by June 2019. Once completed, it will generate enough electricity to power up to 200,000 households in Vietnam and create permanent jobs for over 200 workers.

Under the investment agreement, Sunseap, together with its joint-venture partners InfraCo Asia – an infrastructure development and investment company of the Private Infrastructure Development Group, and CMX Renewable Energy Canada Inc. – a solar developer based in Canada, will be allowed to sell solar power generated by its solar farm to Vietnam’s national grid at the mandated solar feed-in tariff of 9.35 US cents/kilowatt hour for the next 20 years provided they complete the delivery of the clean energy to the grid by June 2019.

Mr Frank Phuan, Co-Founder and Chief Executive Officer of Sunseap, said: “This is the largest project to-date for Sunseap and we are honoured to be able to participate in the greening of Vietnam. There is so much potential to bring affordable and reliable clean energy to the country and we are excited to work with a government that is committed to sustainable development as the way forward.

“The Vietnam solar farm project is in line with our vision to conserve the environment, and at the same time contribute to communities across Asia. We hope that our project can serve as a catalyst to promote greater investments in renewables not just in Vietnam but also throughout the Indo-China region.”

Mr. Luu Xuan Vinh, Chairman of Ninh Thuan Provincial People’s Committee, said: “The 168 MWp solar farm project invested by Sunseap CMX RE Solar Holdings Pte. Ltd. is one of the largest solar energy projects in Ninh Thuan Province. We are pleased to announce that the People’s Committee of Ninh Thuan Province has issued the Investment Registration Certification and the Decision on Land Handover (Phase 1), handing over 130 hectares of land to the project developer. The remaining 56 hectares is expected to be handed over in May 2018.

This project is an example of the collaboration between Vietnam and Singapore to attract investments in the renewable energy sector and demonstrates Vietnam government’s support for Singapore businesses to invest in Vietnam and Ninh Thuan. We are confident that this project will act as a catalyst for more foreign investments into Vietnam and look forward especially to greater collaboration with Singapore enterprises.”

Energy demand in Vietnam is seeing a 12 percent growth annually. According to targets set across by the Vietnamese Government, solar power is expected to become the main source of renewable energy in the future, with installed capacity expected to be increased to 850 MegaWatts (MW) by 2020, which would account for 1.6 percent of the country’s power generation and 12,000 MW by 2030.

Enterprise Singapore, the Singaporean government agency championing enterprise development, supported Sunseap in developing its new technologies and helped built its manpower capabilities in its expansion into Southeast Asia. Enterprise Singapore supported Sunseap in connecting the company with industry stakeholders, including local and international financiers.

Mr Tan Soon Kim, Assistant Chief Executive Officer, Enterprise Singapore, said: “We have seen traction in renewable energy projects in Vietnam, particularly in the solar energy sector. We hope to partner more companies to tap these growing opportunities in the market. The recent Memorandum of Understanding (MOU) we have signed with Vietnam Electricity and Renewable Energy Authority aims to bring in more potential downstream opportunities for Singapore companies.”

Tags: ,
Advertisement