Singapore-based solar energy provider Sunseap Group has signed 20-year power purchase agreements (PPAs) with Vietnam Electricity to supply clean energy to the country’s national grid.
Sunseap will generate the solar energy from seven newly commissioned solar plants in Vietnam. The plants, which have a capacity of 23.2 megawatts, were installed within three months despite movement restrictions amid the Covid-19 pandemic.
The PPAs were signed under Vietnam Electricity’s Feed-In-Tariff 2 programme to promote investments in renewable energy sources by guaranteeing producers an above-market rate for selling into the grid.
The plants, which comprise 60,000 photo-voltaic (PV) panels and 370 DC/AC inverters, are expected to yield around 40,424,479 kilowatt-hours of clean energy per year, equivalent to delivering clean energy to about 13,000 households in Vietnam and reducing carbon dioxide by more than 20,500 tons annually.
The PV systems were built atop factory and warehouse buildings across southern Vietnam in various provinces, including Ba Ria Vung Tau, Dong Nai, Binh Phoc and Binh Duong.
“It was no mean feat installing and commissioning seven solar plants in Vietnam within three months, and in the face of the pandemic-related travel restrictions and supply disruptions,” says Mr Frank Phuan, co-founder and CEO of Sunseap. “The Vietnamese government has been incredibly supportive of clean energy.”
Vietnam, Phuan adds, has become an attractive market in the region due to favourable climate conditions for harnessing solar energy, stable and supportive government policies for solar implementation, and a strong network of well-established developers, off-takers, contractors and financiers.
Sunseap is one of the largest players in the solar energy industry in the region, with a pipeline of projects in Singapore, Australia, China, Taiwan and Cambodia.