Pacifico Energy, a developer of renewable energy, has started operation of the 40 MWp Mui Ne solar power plant in Phan Thiet city, Binh Thuan province, Vietnam.
The solar power plant over a 38 ha area will generate 68 million kWh of electricity annually. The solar power plant will be reducing CO2 emissions by 55,447 tons each year. Vietnam Electricity Corporation will buy all of the electricity generated from the plant for 20 years at USD 9.35 cents per kWh.
Dragon Capital Group is Pacifico Energy Vietnam’s strategic partner for this project. Orient Commercial Joint Stock Bank (OCB) is providing long term non-recourse project financing and Pacifico Energy will provide long-term asset management services, Hoang Giang, chief executive officer of Pacifico Energy in Vietnam, said.
TTCL Vietnam Corporation (TVC), a subsidiary of TTCL, is the EPC contractor for the project in Vietnam.
Nate Franklin, chairman of Pacifico Energy, said: “We hope to continue developing clean renewable energy for the growth of Vietnam.”
Pacifico Energy’s partnership in the Mui Ne Solar Power Plant promotes Vietnam’s energy security and supports sustainable growth in the beautiful Binh Thuan province, said Mary Tarnowka, US Consul General in Ho Chi Minh City.