Kick-starting a 100MW solar power project in Long An province

09:45 | 06/07/2017 Energy

Bamboo Capital Group (BCG) - Bang Duong Consortium and Hanwha Q-Cells Group (South Korea) have signed a cooperation agreement to invest in 100MW solar power project with a total investment on an area of 125 ha in Thanh An commune, Thanh Hoa district, Long An province. The project expects to be started out for construction in the first quarter of 2018 and put into operation in 2019.

kick starting a 100mw solar power project in long an province

According to the cooperation agreement, Bang Duong BCG will arrange domestic capital, carry out procedures for project license, study and implement the project, negotiate and sign power purchase agreement (PPA) with EVN; Hanwha will supply project engineering, technology equipment and installation, and arrange international fund for the project.

The Chairman of Long An Provincial People’s Committee Tran Van Can high appreciated the role of the project in increasing electricity production for socio-economic development of Long An province and Vietnam, as well as in environmental protection and climate change mitigation.

Hanwha Q-Cells is a large multinational group of South Korea, it has a competitive advantage on solar PV technology. At present, Hanwha Q-Cells has built solar power plants in South Korea, China and Malaysia with a total designed capacity of 5.5GW and an average generation of 400 GWh per year for a plant.

Bamboo Capital Group was founded in 2011. From the foundation date BCG has completed 11 M & A deals with a network of 11 member companies and 14 associated companies. BCG deals are aimed at value investing and long-term holding.

Until the end of June 2016, the total asset value of BCG was VND 3,400 billion (equivalent to US$150 million). The investment strategy of the group focuses on sustainable development and capital preservation.

Theo Vietnamenergy