Recently, Univergy International partnered with Japanese company European Clean Energy Japan and Thanh Nien Media Corporation of Vietnam to develop a 44.4MW solar project in DakNong, CuJut, Vietnam.
The project will occupy an area of 51 hectares and is awarded by the Danone Agricultural Public-Age Council of Plateau Province. Univergy is expected to invest a total of $48.4 million.
It is expected that the operation will begin in June next year to provide power to Dunoon and the surrounding areas. The local People's Committee will provide tax incentives for the project and urge the competent authorities and the CuJut District to support investors in implementing the project.
The Executive Director of Univergy International stated that 'Vietnam is one of the fastest growing economies in the world and its energy consumption is growing at an average annual rate of between 8% and 10%. The country will become the largest consumer country.'
Despite major concerns about its PPA model, Vietnam’s utility-scale solar industry has seen a project announcement in recent months.
Sterlingand Wilson, an EPC company headquartered in India, recently stated that it plans to build a 300MW solar photovoltaic power plant in Vietnam before mid-2019. Thai Power Company Gulf Energy Development Corp also plans to cooperate with TTC Group in Vietnam to build a 48 Megawatt solar project.