Nguyen Danh Son, director of the Electric Power Trading Company, and Pham Minh Tuan, general director of BCG Bang Duong Energy JSC, at the signing ceremony on October 29. — VNS Photo
An Electricity of Viet Nam subsidiary and BCG Bang Duong Energy JSC on Monday signed a power purchase agreement for the latter’s 40MW solar power plant in Long An Province.
Electric Power Trading Company is the monopoly buyer of electricity in the country.
It currently pays VND2,086 for a kilowatt hour of solar power.
The US$42 million solar plant in Long An’s Thanh Hoa District by BCG Bang Duong Energy JSC is under construction and slated for completion no later than June 2019.
Once completed, it aims to generate 60 million kWh of power annually.
In addition, Bamboo Capital Group, the parent of BCG Bang Duong, is building two other solar power projects in Long An: the 100MW GAIA plant and 50MW Sunflower plant.
BCG plans to next enter the Quang Nam Province electricity market with two plants on Phu Ninh and Khe Tan lakes with a total capacity of 400 MW. — VNS