|Nguyễn Danh Sơn, director of the Electric Power Trading Company, and Phạm Minh Tuấn, general director of BCG Băng Dương Energy JSC, at the signing ceremony on October 29. — VNS Photo|
HCM CITY — An Electricity of Việt Nam subsidiary and BCG Băng Dương Energy JSC on Monday signed a power purchase agreement for the latter’s 40MW solar power plant in Long An Province.
Electric Power Trading Company is the monopoly buyer of electricity in the country.
It currently pays VNĐ2,086 for a kilowatt hour of solar power.
The US$42 million solar plant in Long An’s Thạnh Hóa District by BCG Băng Dương Energy JSC is under construction and slated for completion no later than June 2019.
Once completed, it aims to generate 60 million kWh of power annually.
In addition, Bamboo Capital Group, the parent of BCG Băng Dương, is building two other solar power projects in Long An: the 100MW GAIA plant and 50MW Sunflower plant.
BCG plans to next enter the Quảng Nam Province electricity market with two plants on Phú Ninh and Khe Tân lakes with a total capacity of 400 MW. — VNS