Under the partnership, the two companies will develop, finance, construct and operate large-scale solar projects in Vietnam
Integrated independent solar power producer Scatec Solar has announced the signing of a strategic collaboration agreement with Vietnamese partner MT Energy (MTE) for 485MW of solar projects in Vietnam.
Under the partnership, the two companies will develop, finance, construct and operate large-scale solar projects in Vietnam.
The strategic partnership agreement covers three projects located in Binh Phuoc, Quang Tri, and Nghe An provinces. In addition, the 485MW solar projects are targeted to be realised under a new feed-in tariff regime that is anticipated to be rolled out later this year.
The company is planning to present the agreement to the Vietnamese Prime Minister, Norway’s Minister of Trade and Industry and other high-level officials during a Vietnam-Norway business forum organised as part of the Vietnamese Prime Minister’s official visit to Norway.
Scatec Solar CEO Raymond Carlsen said: “With this partnership we take the first step in positioning Scatec Solar for the growing solar market in Vietnam. As an affordable, fast and reliable source of energy, we believe solar energy has tremendous potential in Vietnam.”
Scatec Solar will be the turn-key EPC provider for the projects
Scatec Solar is expected to provide equity funding for the projects. It will also be the turn-key EPC provider for the solar projects, apart from offering operation and maintenance and asset management services.
In April 2019, Scatec Solar and partners announced that 65MW of their 400MW Benban project in Egypt reached commercial operation and connected to the grid.
The company said that the Benban solar power plant marks the company’s largest project under construction, and is the largest contributor to the 1.5GW Benban solar park.
The estimated annual 870GWh of electricity produced from Benban plants are expected to avoid approximately 350,000tons of CO2 emissions per annum, providing energy adequate for more than 420,000 households in Egypt.