Sunseap completes a 168MWp solar farm in Vietnam ahead of schedule

July 3, 2019
SINGAPORE clean-energy provider Sunseap Group's unit has
completed a US$150 million Vietnam solar farm project ahead
of schedule, Sunseap International said on
Wednesday.
It was completed and connected to the Vietnam national grid
ahead of a June 30 deadline, the solar energy firm
said.
The solar farm was jointly developed with InfraCo Asia, an
infrastructure development and investment company majority
owned by Sunseap International.
InfraCo Asia is funded by governments of the UK, the
Netherlands, Switzerland and Australia, and is part of the
Private Infrastructure Development Group (PIDG).
PIDG funds projects that improve the infrastructure of
low-income developing South and South-east Asia
countries.
The Vietnam project will sell electricity at a solar feed-in
tariff of 9.35 US cents per kilowatt hour.
The plant will generate 168 megawatt-peak (MWp) of solar
energy, enough to power roughly 192,000 homes and reduce
carbon emissions by about 240,000 tonnes annually.
Located in Ninh Thuan province on the south-central coast of
Vietnam, it was commissioned as part of a 20-year solar
power purchase agreement inked in the second-half of
2018.
The Sunseap unit and InfraCo Asia have also contributed
three billion Vietnamese dong (S$173,749) to fund the
construction of concrete roads surrounding the farm's site,
as part of their corporate social responsibility initiative.
The Vietnam solar farm is one of a string of Asian projects
the solar energy company has undertaken recently.
In June, Sunseap took a S$43 million green loan to install
solar power systems on rooftops across Singapore, and inked
a joint venture to develop solar projects in Taiwan.
In November last year, it announced the development of
offshore floating photovoltaic systems that will be located
along the Strait of Johor, north of Woodlands Waterfront
Park.
Frank Phuan, co-founder and director of the Sunseap Group,
said: "Sunseap is delighted to deliver this solar plant
ahead of schedule and to play our part in the greening of
Vietnam’s fast-growing power grid."
Said Allard Nooy, CEO of InfraCo Asia: "Developing the Ninh
Thuan Solar Power Plant in partnership with Sunseap supports
InfraCo Asia’s aim to serve as a catalyst for future
infrastructure development in the countries and sectors in
which we work.
"We hope this project will serve as a benchmark for future
investors, demonstrating the commercial viability,
development impact, and environmental benefits that can be
achieved."
Sunseap's majority shareholders are its directors, Mr Phuan
and Lawrence Wu, with Thailand’s Banpu Infinergy holding a
25.7 per cent stake.