TTC Group signed an EPC contract with the Sharp-SSSA-NSN joint venture
Recently, on February 23, 2018 in Ho Chi Minh City, Gia Lai Electricity Joint Stock Company (GEC), a member of TTC Group, signed an EPC contract to implement the project Phong Dien solar power with Sharp - SSSA - NSN joint venture. This is a joint venture of 3 contractors, including Sharp Corporation (Japan), Sharp Solar Solution Asia (SSSA) Company (Thailand), and NSN Construction and Engineering Joint Stock Company. The leader of this joint venture is Sharp Corporation of Japan, founded in 1912.
According to the plan, after this EPC contract takes effect, the Sharp - SSSA - NSN joint venture will officially be the contractor to implement the Phong Dien Solar Power project in Thua Thien Hue province. The project's power generation is expected to be at the end of the third quarter of 2018, with a capacity of 35 MWp and an estimated electricity output of 61,570 MWh/year, nearly equal to the annual electricity consumption of about 32,628 households in Vietnam. More specifically, it is estimated to reduce CO2 emissions by about 20,503 tons/year, contributing to environmental protection and global efforts to limit global warming. After the project is completed and put into operation, the Phong Dien Solar Power project will make an important contribution to economic growth, promote local socio-economic development, and add renewable energy sources to the national power grid system.
With the main unit being Gia Lai Electricity Joint Stock Company (GEC), the TTC energy industry is constantly promoting investment in clean energy sources and piloting wind power and solar power models in some potential localities, besides investing in hydropower. Specifically, by 2020, TTC plans to reach a capacity of 1,000 MW of solar power, 40 MW of wind power, accounting for 73% of the group's entire energy sector, the remaining 222 MW of hydropower, accounting for 16%, and 150 MW of thermal power, accounting for 11%. Previously, TTC planned to deploy 20 solar power projects in Tay Ninh (324 MW), Binh Thuan (300 MW), Ninh Thuan (300 MW), and Gia Lai (49 MW), with a maximum investment of 20 billion VND/MW, IRR reaches 15% or more, the payback period is less than 12 years.
TTC is a multi-industry investment organization with more than 40 years of experience in real estate, energy, agriculture, education, and tourism. With 4 corporations and 1 industry committee, it has more than 150 affiliated units. The signing of the EPC contract with the joint venture Sharp - SSSA - NSN this time marks a significant milestone in the trend of cooperation and development, contributing to the operational efficiency of the parties and increasing benefits for the community in the context of climate change in Vietnam. This also creates the foundation for completing the clean energy development roadmap and the strategy to expand the scale of operations according to the international standards of the TTC energy industry, and it is also a solution to help Vietnam's energy industry be ready to anticipate opportunities and challenges with new developments in the future.
Source: thanhnien.vn
