10:25 | 01/05/2017 Industry
The Solkiss Company of the Republic of Korea will invest in a solar power project in Thac Ba Lake in Yen Binh district, a local official has revealed.
Director of the provincial Department of Industry and Trade Truong Ngoc Bien said the project will combine wind, solar and water energy to produce electricity. The province and the ROK Company signed a memorandum of understanding (MoU) on the project earlier this year in Seoul.
According to the MoU, the province will assist the investor in conducting necessary surveys and research as well as in implementing the project. The province will also negotiate with the Electricity of Vietnam (EVN) on the pricing of electricity.
The Solkiss Company will establish a Yen Bai-based Solkiss Company, and train local workers to be employed at the plant.
The company also pledged to bring more investors to explore the investment potential in Yen Bai province.
President of the Solkiss Company Do Young Woo said the company will invest VND25 trillion (US$1.1 billion) in building the power plant with a capacity of 500 MW.
The Ministry of Industry and Trade expressed support of the investment project in document No. 40/TB-BCT issued on February 23, 2017.
Do Duc Duy, Chairman of the provincial People’s Committee, called on the Government and relevant bodies to offer incentives for the project as it applies advanced and environmentally friendly technology.
He also pledged that the province will create the best conditions for foreign investors, including the Solkiss Company.