A solar power project in Binh Phuoc Province. Binh Phuoc is expected to become one of the country’s largest solar energy producers in the near future.
Thailand-listed Super Energy Corporation Public Company Limited has decided to pump up to US$456.7 million into four solar power plants in the southeastern province of Binh Phuoc.
The plants are Loc Ninh 1, Loc Ninh 2, Loc Ninh 3 and Loc Ninh 4 with a total installed capacity of 750 megawatts. The respective investment for these plants will be $99.7 million, $140 million, $105 million and $112 million.
Super Energy calculated that returns on investment from the four solar power projects would be around 17 per cent for each project.
“By investing in Viet Nam, these four projects will help strengthen the competitiveness in the business,” the company said in a regulatory filing to the Stock Exchange of Thailand.
Viet Nam is a country with high potential for renewable energy development, especially solar and wind energy. The country is in the direction of growing trade and industry, so there is a tendency to increase energy consumption.
Currently, the Vietnamese Government gives priority to solar and wind energy to reduce environmental impacts and to build energy security for the country. This is a good opportunity for the company to invest, according to the company.
Headquartered in Bangkok, Super Energy Corporation Public Company Limited specialises in production and distribution of electricity from renewable energy, production and distribution of water for industry and consumption, information & communications technology.
Binh Phuoc is expected to become one of the country’s largest solar energy producers in the near future.
It has high potential for solar electricity, especially in Loc Ninh District where the intensity of solar radiation is higher than other places in the region at 5.14 KWh per square metre per day, so it is suitable for developing renewable energy.
According to the plan to develop solar power to 2030, the locality is expected to generate 4,775 MWp. Total area planned for developing solar power plants is about 5,000ha, located in Loc Ninh District.
The province is calling for potential investors to survey and preparing supplementary documents for each project in the province.