BCG Bang Duong Joint Operation Signing Investment Cooperation Agreement With Hanwha Group (Korea) In Long An
On June 22, 2017, BCG Băng Dương (HSX: BCG) and Hanwha signed a joint investment agreement on the implementation of solar power projects. The signing ceremony was joined by the leaders of the province, departments and representatives of the two parties.
Accordingly, BCG Bang Duong co-operated with Hanwha in developing solar projects in Long An. Specifically, BCG arranges capital sources, carry out procedures of project establishment permit, study and implement the project, negotiate and sign EVN power purchase contract; Hanwha will participate in the same investment project as providing technology equipment, engineering, installation, and arranging international financing projects.
The solar power plant project in Thanh Hoa district, Long An with the investment of nearly 100 million USD, 100MW capacity, is built on an area of 125 hectares. The plant is scheduled to be built in Q1 / 2018 and will generate electricity in 2019.
As a tropical country, Vietnam, with the advantage of being one of the most sun radiator distributed countries, has enormous potential for solar energy, especially electricity. Potential residential and commercial solar energy is estimated to be at least 2-5 GW over the next decade. The capacity of ground solar systems mounted of about 22GW in the South of Vietnam. Accessing this new source of energy not only contributes to the energy supply of the society, but also helps to save energy and reduce environmental pollution.
Nguyen Ho Nam, Chairman of BCG Board of Directors, Representative of BCG joint operation, said: “To assess the importance, advantages and benefits of renewable energy sources in response to the increasing demand for electricity, BCG has chosen to promote investment in renewable energy projects for the long-term development strategy of the company. We believe with the experience and technology in the field of renewable energy of Hanwha Group, the factory in Thanh Hoa, Long An, when put into operation, will contribute to increase the power supply for Vietnam, mitigate climate change, environmental protection and sustainable socio-economic development.”
Information about the BCC Bang Duong Joint Operation
Bamboo Capital Joint Stock Company (BCG) is a multi-disciplinary investment company operating in such areas as Agricultural Trade, Infrastructure Development and Renewable Energy Development. BCG is a listed company on the Ho Chi Minh City Stock Exchange (HSX), with a chartered capital of VND1080 billion.
BCG information is available at www.bamboocap.com.vn
Bang Duong Investment – Construction – Trading Company (Bang Duong) works in the field of construction and is one of the contractors of infrastructure projects in Vietnam. Bang Duong is undertaking a series of major infrastructure projects in the south. The key projects in Long An of Bang Duong such as Ben Luc Road (National Highway 1) – Tan Tap (from Nguyen Trung Truc to Provincial Road826) “; Road connecting Provincial Road 830 to Highway N2 “; Tan Tap – Long Hau road from Hamlet 3, Long Hau to Rach Dua river.
BCG Bang Duong Joint Operation is cooperating with potential partners such as: Infrastructure Development – Real Estate and Renewable Energy. The 830 & 824 road extension project of the BCG Bang Duong Joint Operation has been officially started in November 2016 and is expected to be completed in the first quarter of 2018.
Information about Hanwha Group (Korea)
Founded in 1952, Hanwha is the 8th largest Korean corporation with total assets of $117 billion and is the 277th largest economic group in the world. Hanwha currently has a diversified business portfolio with major segments: aerospace and mechatronics; recycled energy; construct; finance; Travel and entertainment; Chemicals and materials.
Hanwha has a global network of 58 subsidiaries in Korea and more than 170 companies in countries such as Canada, USA, China, UK, other European countries and Japan. Hanwha is currently the second largest non-bank financial institution in Korea.