Facebook has revealed plans to buy electricity from a 5 MW floating solar array in the Straits of Johor. The project will sell power through a virtual power purchase agreement.
The developer said it installed and commissioned seven solar rooftops in just three months despite Covid-19 travel restrictions.
The latest PV finance report released by Mercom Capital had solar investment falling almost entirely across the board with the number of new solar funds launched in the last three months offering a rare piece of good news.
At the end of Vietnam’s solar gold rush, the Chinese power electronics maker can look back on a positive result. With the last glut of project announcements issued, Sunseap said it had finished a 168 MW installation featuring Longi’s Hi-Mo 1 modules.
The Dutch banking group will serve as sole mandated lead arranger for the S$50 million ($36.98 million) loan. A unit of Singapore-based developer Sunseap will use the funds to build a 50 MW portfolio of rooftop PV projects.
Project developer Sunseap has announced plans for one of the world’s largest PV systems floating on seawater, to be built in the Johor strait which separates Singapore and Malaysia. The 5 MW system is expected to be completed in the first quarter of 2019.
Singapore based developer Sunseap International has announced the start of construction on 168 MW project located in Ninh Thuan Province in the south of Vietnam. According to Sunseap, the project will be the largest built to date in the Association of Southeast Asian Nations (ASEAN) region.
Residential solar installations have almost trebled in Ho Chi Minh City in the past nine months, in line with the Vietnamese government’s recently announced aim for solar arrays to be installed on 26% of the country’s homes by 2030.
The Vietnamese authorities have submitted a complaint to the World Trade Organization (WTO) to request formal consultations with Washington over its recently announced 30% tariff on crystalline silicon PV imports.