Vietnamese conglomerate Sao Mai Group last week announced a partnership agreement with domestic lender HD Bank to finance an up to 210-MW solar project.
The particular scheme, called Sao Mai Solar PV1, will consist of four separate phases, calling for an overall investment of VND 5.6 trillion (USD 241.4m/EUR 212.3m). The capacity will be installed in Tri Ton, An Giang province on an area of 275 ha (680 acres), which will make it one of the largest photovoltaic (PV) parks in Southeast Asia.
The first phase of the project will have a capacity of 104 MW and is planned to become operational by end-June 2019. It already has in place a power purchase agreement (PPA) with Vietnam Electricity Group, the National Electricity Regulatory Centre, Electricity Trading Company and Southern Power Corp. The output will be sold at a tariff of USD 0.0935 (EUR 0.0824) per kWh.
Once fully commissioned in 2020, the 210-MW solar farm will be able to generate around 2.5 billion kWh of electricity per year.