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Sunseap connects 23 MW in Vietnam under FIT regime

The developer said it installed and commissioned seven solar rooftops in just three months despite Covid-19 travel restrictions.

Singaporean clean power developer Sunseap has said it installed and connected seven rooftop solar systems with a total generation capacity of 23.2 MWp to the Vietnamese grid in just three months last year.

Having secured a feed-in tariff (FIT) under the FIT 2 regime, which ran from April to the end of December, Sunseap yesterday said it installed almost 60,000 panels plus 370 inverters on factory and warehouse rooftops in southern provinces including Ba Ria Vung Tau, Dong Nai, Binh Phoc and Binh Duong.

Sunseap CEO and co-founder Frank Phuan, in a press release issued by the company, said: “It was no mean feat installing and commissioning seven solar plants in Vietnam within three months, and in the face of the pandemic-related travel restrictions and supply disruptions. We hope this demonstrates to our partners and potential partners Sunseap’s strong end-to-end project development and management competencies and our ability to complete a project within a tight deadline.”

FIT

The arrays will supply power to state power company Vietnam Electricity under a 20-year power purchase agreement. As pv magazine reported in April, the FIT 2 program offered a solar rooftop payment of $0.0838/kWh.

The developer said it expects the systems to generate 40.4 GWh per year for the Vietnamese grid. Developers were last year critical of the time frames involved in qualifying for the new payments, with projects having to be commissioned this year to be eligible. However, Phuan said: “The Vietnamese government has been incredibly supportive of clean energy and we look forward to more opportunities to power the country’s economic growth in a sustainable manner.”

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In a separate development, Bangkok-based developer Constant Energy said it had secured its first corporate power purchase agreement-driven installation at the end of December, for a 1 MWp system in Binh Duong province.

The array, which was jointly developed with Bach Khoa Solar Group subsidiary Solar Esco, will supply power to apparel manufacturer Leading Star Garment joint stock company.

Constant Energy yesterday announced it had closed the VND8.9 billion ($388,000) finance for the array with the Indovina Bank joint venture established by the state-owned Vietnam Bank for Industry and Trade and Taiwanese commercial lender Cathay United Bank.

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Source: pv magazine