Russian energy company Arman Holding is working with the sole power provider in Vietnam EVN on a solar plant worth US$140 million.
A source from Quang Nam Province in central Vietnam said the Russian firm, the main investor of the project, is surveying for a location with its partners – Singapore’s finance company Royale Star Holdings and Vietnam’s Natural Energy Investment & Development JSC.
The 100-megawatt plant is expected to be the first solar power project in Vietnam connected to the national grid network.
The partners are discussing with EVN, fully known as Electricity of Vietnam, about market prices.
Further details and timeframe of the project are not available.
Vietnam has been putting solar panels on large buildings across the country, but the generated electricity mostly serves the buildings themselves.
The country is still depending on hydro and thermal plants for most of its electricity demand.