Norway-based Scatec Solar signed a collaboration agreement with Vietnamese MT Energy (MTE) for 485 megawatts (MW) of solar PV projects, the company announced Friday.
The two companies will develop, finance, construct and operate large-scale solar projects in Vietnam.
According to Scatec Solar's statement, the agreement covers three projects located in Binh Phuoc, Quang Tri, and Nghe An provinces. The projects total 485 MW and are planned to be realized under a new feed-in tariff regime that is expected to be launched later this year.
Scatec Solar will provide the project’s equity funding. In addition, the company will act as the turnkey EPC [Engineering, Procurement, Construction] provider and provide operation and maintenance as well as asset management services for the projects.
Commenting on the agreement, Scatec Solar CEO Raymond Carlsen said: "With this partnership we take the first step in positioning Scatec Solar for the growing solar market in Vietnam. As an affordable, fast and reliable source of energy, we believe solar energy has tremendous potential in Vietnam."
Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 gigawatt (GW). The company has a total of 1.7 GW in operation and under construction in Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine. It targets a capacity of 3.5 GW in operation and under construction by the end of 2021.
By Hale Turkes