Pacifico Energy has announced the commencement of operation of the 40 MWp Mui Ne Solar Power Plant in Phan Thiet city, Binh Thuan province, Vietnam on June 12, 2019.
Construction of the plant commenced on October 12, 2018 over a 38 ha area and will generate approximately 68 million kWh of electricity annually, reducing CO2 emissions by 55,447 tons each year. Vietnam Electricity Corporation will purchase all of the electricity generated from the plant for a period of 20 years at US$9.35 cents per kWh as per Decision 11 made by Vietnam Prime Minister in 2017.
Dragon Capital Group is Pacifico Energy Vietnam’s strategic partner for this project. Orient Commercial Joint Stock Bank (OCB) is providing long term non-recourse project financing and Pacifico Energy will provide long-term asset management services.
The Engineering-Procurement-Construction Contractor was TTCL Vietnam Corporation Limited (TVC), a subsidiary of TTCL Public Company Limited.
