AC Energy, AMI Renewables make 2 solar projects in Vietnam

By Lenie Lectura – June 5, 2019
from Business Mirror

AC Energy Inc. and AMI Renewables have completed two solar-power projects in Vietnam with a combined capacity of 80 megawatts (MW).

The 50-MW Khanh Hoa solar plant was inaugurated on May 30, while the switch-on ceremony of the 30-MW Dak Lak facility was held on April 25. The total cost of the two projects stood at $ 83 million, with AC Energy participating with at least 50-percent economic share.

Both events were hosted by AC Energy and AMI Renewables, with key government officials and project partners in attendance.

The solar plants, completed in time for the Vietnam government’s feed-in tariff deadline of June 2019, are located in the provinces of Khanh Hoa and Dak Lak. Both facilities are expected to qualify for the Vietnam government’s feed-in-tariff.

“These projects are a testament to our long-term commitment to the economic and social development of the provinces of Khanh Hoa and Dak Lak, “AC Energy Senior Vice President Miguel de Jesus said.

The commissioning of the Khanh Hoa and Dak Lak solar plants comes only weeks after AC Energy inaugurated the 330-MW solar farm in Ninh Thuan consisting of three solar plants, its maiden greenfield project in the region. The Ninh Thuan solar project is a joint venture between AC Energy and the BIM Group and is one of the largest solar farms in Southeast Asia.

“This reaffirms AC Energy’s commitment to shore up our presence in the region, particularly in Vietnam’s growing power sector. We believe this is a critical part of the country’s progress,” AC Energy COO for International Patrice Clausse said.

In 2017, AC Energy and AMI Renewables formed a platform company named AMI/AC Renewables Joint Stock Co. to build renewable- energy plants in Vietnam. The partners are in advanced discussions for the development of the Quang Binh wind project, which has a potential of 200 MW to 300 MW.

“The successful completion of the Khanh Hoa and Dak Lak solar projects speaks to our strong partnership with AC Energy. Together, we hope to grow our renewables to 1 gigawatt (GW) by 2025 in Vietnam,” CEO of AMI AC Renewables Joint Stock Co. Nguyen Nam Thang said.

With five new solar plants in its portfolio, AC Energy will continue to be an active participant in Vietnam’s renewable-energy sector as it aims to reach its target of 5 GW of renewable-energy capacity by 2025, with renewables contributing at least 50 percent of total energy output.