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SolarBK, BIC & BIDV partner to introduce solar power solution

Released at: 08:30, 27/09/2018

SolarBK, BIC & BIDV partner to introduce solar power solution

Photo: Khanh Chi (VET)

BigK the first rooftop solar power system in Vietnam to offer solar output insurance and financial services.

by Hong Nhung

The Bach Khoa Investment and Development of Solar Energy Corporation (SolarBK) recently announced a strategic partnership with the Bank for Investment and Development of Vietnam (BIDV) and the BIDV Insurance JSC (BIC) to introduce the first rooftop solar power system, BigK, which comes with solar output insurance and financial services.

The partnership will be a boon to Vietnam’s solar energy market, as BigK offers customers solar output insurance and financial services while bringing renewable energy closer to Vietnamese people.

This is the first time in Vietnam a third party, BIC, has come forward to guarantee output and a bank has agreed to support financing. Given that solar power remains relatively new and policies are incomplete, the partnership will have significant credibility among customers using safe and friendly energy.

BigK (which now stands for BigKilowatt), whose capacity varies from 2-10 kWp, was designed by SolarBK and distributed by SolarGATES and specifically targets households. Two months after its debut, with reasonable prices and international certifications, nearly 50 orders have been placed with a total capacity of 180 kWp.

Thanks to the cooperation between SolarBK and BIC, from August to July next year any BigK solution distributed by SolarGATES will come with Solar Output Insurance from BIC. The productivity guaranteed is equal to 75 per cent of the system simulation and valid for five years from the issued date by SolarGATES.

Furthermore, with financial services provided by BIDV, SolarBK’s customers purchasing BigK can receive from 12 to 36 months of incentive loans from BIDV Vung Tau Con Dao.

SolarBK has continually made efforts to find appropriate partners, prove its ability and bolster belief in the market, convincing BIC and BIDV to provide more add-on values. This can be viewed as the first solar energy solution in Vietnam that guarantees both the finance and insurance aspects for customers and increases trust in the quality of a domestic product.

SolarBK Holdings has demonstrated its potential through many national projects such as lighting systems on Truong Sa Archipelago, for which it won a Global Energy 2012 award, seawater filters run by clean energy on Song Tu Tay Island, for which it won a Global Energy 2016 award, and so on.

In 2017 it provided domestic market solar energy solutions of up to 3 MWp and held a domestic market share of 30 per cent. In October 2017 the Da Nang City People’s Committee approved SolarBK building a solar energy farm in the city with a capacity of 4.4 MWp.

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