Sharp Corporation has announced the signing of a contract with Gia Lai Electricity Joint Stock Company for the construction of a 48 MW (DC) PV plant in Vietnam.
Construction on the plant is set to begin immediately, with the start of operations scheduled for September 2018. The plant is located in Thua Thien Hue Province, in Vietnam’s North Central Coastal Region.
Gia Lai Electricity Joint Stock Company is a subsidiary of the Thanh Thanh Cong Group (TTC), which had previously announced plans to invest up to US$1 billion on 1 GW of PV projects in Vietnam.
Back in April 2017, Vietnam announced new FIT rates to support the development of the country’s utility-scale PV sector. This was followed by the announcement of an auction program supported by the world bank.
Since the FIT announcement, several major projects have gotten underway in Vietnam, and Sharp’s project is the second announced in 2018, with Sunseap and Infraco Asia teaming up to develop a 168 MW PV project in the southern Ninh Thuan province.
Vietnam’s seventh Power Development Plan, first announced in 2011, aims to increase cumulative solar capacity in the country to 850 MW by 2020, and 12 GW by 2030.