The project, developed in the Khanh Hoa province in partnership with Song Giang Solar Power JSC, is expected to generate more than 78,600 MWh of electricity per year
New Delhi: Solar photovoltaic (PV) manufacturer and EPC player, Waaree Energies, today announced it has commissioned a 49.5 megawatt (MW) ground-mounted solar power plant in Vietnam, marking the company’s foray in Southeast Asia.
The project, developed in the Khanh Hoa province in partnership with Song Giang Solar Power JSC, is expected to generate more than 78,600 MWh of electricity per year. “Waaree’s international projects are expected to contribute over 15 per cent to their overall revenue in FY20 and this project will mark the completion of over 600 MW solar EPC projects,” the company said in a statement.
“Demand for energy in Vietnam is expected to increase by 10 per cent by 2020 and Waaree is targeting this growing demand. With 100 MW international projects in the pipeline, we are looking forward to aid the solar transition globally,” said Sunil Rathi, director, Waaree Energies.
Waaree has provided EPC services for the project and will be responsible for the supervision of the plant’s operations and maintenance.
Vietnam is targeting to set up 12 gigawatt (GW) of power capacity from solar installations. The nation witnesses $6.8-billion investment annually in the power sector. Vietnam’s state-owned power company Vietnam Electricity will purchase electricity from the plant for 20 years based on feed-in tariff.
Waaree Energies has a solar PV Module manufacturing capacity of 1.5 GW.