The China based company built the project in cooperation with renewables developer Helio Power Vietnam. The plant, which named “Thuan Minh 2 Solar Farm”, has started commercial operation from the end of June, 2019. It is expected to generate roughly 78,000 MWh clean energy every year, which is enough to cater to the needs of 40,000 Vietnamese households.
The project is Jetion Solar’s first EPC project in Vietnam. In August 2018, CNBM New Energy, a wholly owned subsidiary of Jetion Solar, signed a strategic cooperation agreement with Helio Power Vietnam to develop and construct a total of 500 MW solar power plants. The currenty 50 MW project in Binh Thuan province is the first phase of the total agreement.
Vietnam’s total installed PV capacity remains negligible thus far, with slightly more than 100 MW plugged in by the end of 2018, according to statistics from the International Renewable Energy Agency (IRENA). However, industry analysts expect a big chunk of solar capacity to be built this year, with new feed-in tariff rates to go into effect this summer. The Vietnamese government, meanwhile, hopes to see as much as 12 GW patched into the national electricity grid by 2030.