The Phu My solar farm in Binh Dinh Province’s Phu My District, which began commercial operation on December 31. — Photo courtesy of BCG Energy

The Phu My solar power plant in Binh Dinh Province began operation and was connected to the national grid on December 31 just seven months after construction began.

Built by Clean Energy Vision Development JSC, a subsidiary of BCG Energy, at a cost of over VND6.2 trillion (US$268.6 million), it will have a capacity of 330 MW when the second phase is complete.

It now has a capacity of 216 MW.

The second phase is expected to go on stream before February 28 this year.

Thus, the first 216 MW will get a feed-in-tariff (FIT) of 7.09 US cents/kWh according to the Decision 13/2020/QD-TTg, which provided for that rate for plants beginning commercial operation before December 31.

When fully operational, it will generate 520 million kilowatt-hours of power annually, meeting the needs of 200,000 households and helping offset roughly 146,000 tonnes of CO2 emissions a year.

BCG Energy is a pioneer in developing clean energy in Viet Nam that successfully raises fund in the international market. In December it raised $43.6 million through convertible bonds to invest in renewable energy projects. — VNS