Sunseap signs 20-year agreements to supply clean energy to Vietnam Electricity's national grid


"One of Sunseap Vietnam's 6.893MWp solar plant located In Ba Ria Vung Tau province."

February 10, 2021

Sunseap Group, Singapore's leading solar energy provider, have signed 20-year Power Purchase Agreements (PPAs) with Vietnam Electricity to supply clean energy to the country's national grid.

Sunseap will generate the solar energy from seven newly commissioned solar plants in Vietnam. With a total capacity of 23.2MWp, these plants were installed within three months despite movement restrictions amid the Covid-19 pandemic.

The PPAs were signed under Vietnam Electricity's Feed-In-Tariff 2 programme to promote investments in renewable energy sources by guaranteeing producers an above-market rate for selling into the grid.

Sunseap said the plants comprised close to 60,000 photo-voltaic (PV) panels and 370 DC/AC inverters, and are expected to yield around 40,424,479 kilowatt-hours of clean energy per year, equivalent to delivering clean energy to about 13,000 households in Vietnam and reducing carbon dioxide by more than 20,500 tons annually.

The PV systems were built atop factory and warehouse buildings across Southern Vietnam in various provinces including Ba Ria Vung Tau, Dong Nai, Binh Phoc and Binh Duong.

Mr Frank Phuan, co-founder and CEO of Sunseap Group, said: "It was no mean feat installing and commissioning seven solar plants in Vietnam within three months, and in the face of the pandemic-related travel restrictions and supply disruptions.

"We hope this demonstrates to our partners and potential partners Sunseap's strong end-to-end project development and management competencies and our ability to complete a project within a tight deadline. The Vietnamese government has been incredibly supportive of clean energy and we look forward to more opportunities to power the country's economic growth in a sustainable manner."

Mr Phuan added that Vietnam has become an attractive market in the region due to favourable climate conditions for harnessing solar energy, stable and supportive government policies for solar implementation, and a strong network of well-established developers, off-takers, contractors and financiers.

Mr Jeff Lim, Vice-President of Business Development and International activities at Sunseap Group, added: "We are pleased that the team's strong work ethics, competence and adaptability, have enabled us to install the solar plants expeditiously despite the Covid-19 restrictions.

"We are grateful that the tremendous support of the Vietnamese government has also contributed to the smooth and successful execution of the project. In the coming year we look forward to forging closer relationships with our local partners to expand our portfolio of projects in Vietnam."

The latest project adds to the 168MWp solar farm Sunseap has developed in Ninh Thuan province in 2019.

Sunseap is one of the largest and most established players in the solar energy industry in the region, with a pipeline of projects in Singapore, Australia, China, Taiwan and Cambodia.

About Sunseap Group
Sunseap Group is a leading solar energy system developer, owner and operator in Singapore, with over 400 MegaWatt-peak (MWp) of solar energy projects contracted, of which more than 168 MWp have been completed on more than 1,500 buildings in Singapore including public housing estates, as well as commercial and industrial buildings. It operates through five key units: Sunseap Leasing, Sunseap International, Sunseap Energy, Sunseap Engineering and Sunseap Solutions.

Sunseap Leasing is the first and largest solar leasing company in Singapore. Sunseap International targets markets in the Southeast Asian and Pacific regions. These include solar farm in Vietnam with more than 170 MWp, and solar projects in Cambodia, China, Taiwan, Japan, Thailand and Malaysia. Sunseap Energy provides renewable energy solutions utilising off-site arrangements by drawing on solar systems within the Group’s portfolio of distributed generation assets. Sunseap Engineering provides engineering, procurement and construction as well as operation and maintenance services for PV projects. Sunseap Solutions focuses on energy efficiency solutions by providing services such as energy audits, lighting retrofitting and green roof systems.

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