TTC Group inaugurates solar power plant
TTC Group and Gia Lai Electricity JSC (GEC) have officially opened the first 35MW solar power plant in Vietnam, the TTC Phong Điền. The plant, located in Thừa Thiên-Huế Province, was completed in just nine months, with total investment capital of almost $43 million. It has 145,560 solar panels with advanced technology and equipment, which will convert the sun’s radiation into electricity for the national grid. The plant is expected to generate around 60 million kWh per year, equivalent to the annual electricity consumption of approximately 32,628 Vietnamese households.
Here are some key takeaways:
- TTC Phong Điền: 35MW solar power plant in Vietnam
- Success spurs TTC Krong Pa plant
- TTC energy: 6 other solar plants in the works
Private Investment Driving Vietnam’s Sustainable Growth
The opening of the TTC Phong Điền plant marks a significant step forward in the development of Vietnam’s solar energy sector, which is beginning to leverage the potential of private investors. The project is estimated to reduce CO2 emissions by about 20,503 tonnes per year, helping Vietnam meet its climate commitments. The success of the project has already spurred GEC to move forward with the TTC Krong Pa solar power plant in Gia Lai Province, which is expected to go into operation in the last quarter of 2023. The Krong Pa plant, worth $60.3 million, has a capacity of 49MW.
The TTC energy segment has six other solar energy plants in the works that are expected to be completed by June 2019. These projects will undoubtedly strengthen Vietnam’s position in the global solar energy market, help the country diversify its energy supply, and support its economic growth.
Vietnam’s Green Energy Potential: Paving the Way for the Future
According to Kyle Kelhofer, IFC Country Manager for Việt Nam, Cambodia, and Lao PDR, “It’s very encouraging to see Phong Điền solar power plant go online, paving the way for the development of Việt Nam’s solar energy sector by leveraging the private sector.” He believes that GEC is moving in the right direction to tap into Vietnam’s green energy potential, improving the country’s energy supply capacity through the expansion of reliable and clean energy.
In conclusion, the TTC Phong Điền solar power plant’s opening is a significant milestone for Vietnam’s solar energy sector, with private investors now actively contributing to the country’s economic growth while simultaneously supporting its sustainability goals. It sets a positive precedent for the future of renewable energy in Vietnam and paves the way for further solar energy projects.