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VOI Fund & BCG-CME inaugurate solar power plant in Long An

Released at: 14:07, 25/06/2019

VOI Fund & BCG-CME inaugurate solar power plant in Long An

Photo: VOI

BCG - CME Long An 1 solar plant inaugurated on June 23.

by Doanh Doanh

The Vietnam-Oman Investment Fund (VOI) and the joint venture between the Bamboo Capital Group (BCG) and Copper Mountain Energy (CME) held an inauguration ceremony on June 23 for the BCG - CME Long An 1 solar plant in Thanh An commune, Thanh Hoa district in the Mekong Delta’s Long An province.

This is one of the first solar power plants to be inaugurated in the province and integrated into the national electricity grid. The BCG - CME Long An 1 solar plant was built on an area of 50.2 ha and has an installed capacity of 40.6 MWp, with total investment of VND1.088 trillion ($46.7 million).

The project saw construction begin last September, with 123,000 solar panels installed with modern technology and equipment to operate at a high level of efficiency.

The plant is proof of fruitful cooperation between leading global partners in the solar industry in terms of technical matters, construction, and environmental structures. Once officially put into operation, BCG - CME Long An 1 will generate 57 million kWh per year, nearly equal to the annual electricity consumption of 22,000 households in Vietnam, and is estimated to cut CO2 emissions by about 16,000 tons a year.

VOI has committed to invest long-term in building and developing the BCG - CME Long An solar power plants. The fund is one of the first foreign investors, together with the BCG - CME joint venture, to generate electricity from renewable energy sources.

This is an incredible and impressive achievement, realizing one of the economic cooperation objectives discussed at meeting of the Vietnam-Oman Technical - Economic Joint Committee in Hanoi back in March 2018.

Appreciating the support of the Vietnamese Government to promote renewable energy production, especially wind and solar energy, and thanks the declining cost of producing renewable energy, VOI promised to continue accelerating Vietnam’s efforts in the process of developing low carbon emission electricity production.

CME is an investment company specializing in the field of renewable energy. The BCG - CME Long An 1 solar power plant (40 MW) and the BCG - CME Long An 2 power plant (100 MW) are two of CME’s first joint venture projects with BCG and VOI. CME is currently deploying other renewable energy projects, such as wind power and solar power, including rooftop-mounted solar power projects in both residential and industrial zones in Vietnam’s southern region.

Attending the inauguration ceremony was Politburo Member and former State President Truong Tan Sang, Provincial Party Committee Secretary and Chairman of the Long An People’s Council Mr. Pham Van Canh, Deputy Minister of Industry and Trade Mr. Hoang Quoc Vuong, and Dr. Abdulmalik-Abdullah Zahir Al Hinal, Advisor to the Royal Family and the Ministry of Finance of the Sultanate of Oman and Chairman of the VOI Advisory Council.

Mr. Sang also presented 100 “Relaying to School” scholarships to poor students in Thanh Hoa district at the ceremony.

“The BCG - CME Long An 1 solar power plant is being implemented and operated with consistent policies and specific support mechanisms that are important for BCG,” said Group Chairman Mr. Nguyen Ho Nam. “BCG always focuses on investing in sustainable values by proactively anticipating global trends with policies for developing renewable energy.”

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