Strategic collaboration for 485 MW of solar PV in Vietnam

Scatec Solar, an integrated independent solar power producer headquartered in Oslo, Norway, has partnered with MT Energy, a Vietnamese energy company, to develop, finance, construct and operate large-scale solar photovoltaic projects in Vietnam.

The strategic collaboration agreement covers three projects located in Binh Phuoc, Quang Tri, and Nghe An provinces. The projects´ total 485 MW and each of them will be realised under a new feed-in tariff regime that is expected to be launched later this year.

The agreement will be presented 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.

CEO of Scatec Solar, Raymond Carlsen says - “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 is envisioned to provide the project’s equity funding. In addition, the company will provide procurement and construction (EPC) and will be providing Operation & Maintenance as well as Asset Management services to the projects.

Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. It develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine. With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021.