Representatives of Bamboo Capital JSC, Unisun Energy Group and Germany’s Coara Solar at the signing of an agreement to build a US$40 million solar power project in Long An Province. — VNS Photo

Bamboo Capital JSC, Hong Kong’s Unisun Energy Group and Germany’s Coara Solar have signed an agreement to develop a US$40 million solar power plant in Long An, BCG’s second in the province.

Construction is expected to start in the first quarter of next year, and the plant will begin to generate electricity in the second quarter of 2019.

With its experience in renewable energy development and construction, Coara Solar will be the EPC (Engineering Procurement and Construction) contractor, providing technology and technical consultancy and carrying out the construction.

Unisun will fund the project, while BCG will obtain the licence and negotiate a power purchase contract with Electricity of Viet Nam, the country’s sole power distributor.

Last month BCG Bang Duong Joint Venture and South Korea’s Hanwha Group signed an agreement to set up a $100 million solar power plant in Long An.

The province has agreed to hand over 175ha of land to build the two plants.

Nguyen Ho Nam, chairman of BCG, said: “The involvement of famous global groups like Unisun Energy, Coara Solar and Hanwha would help BCG develop quickly in the renewables sector, which is growing rapidly in Viet Nam.”

With its target to become one of leaders in renewables, BCG also plans to carry out other power projects in Quang Nam and Gia Lai Provinces. — VNS