InfraCo Asia & Sunseap collaborate to build solar project in Vietnam
Date: 2018-02-14   Author: Dhananjay Punekar  Category: #news

InfraCo Asia & Sunseap collaborate to build solar project in Vietnam

InfraCo Asia Development Private Limited, a firm developing infrastructure projects in the developing regions of Southeast Asia, and Sunseap International, the global division of Singapore based Sunseap Group, have reportedly entered a deal to build 168 MWp utility-scale solar power venture in the Ninh Thuan province of Vietnam. The key officials of both the firms have announced that the project is the first of many huge solar projects in Vietnam. Apparently, the total power generated via the solar power project will help in fulfilling the escalating demand for electricity of nearly 200,000 homes across the country.

According to The StraitsTimes, Sunseap is expected to hold a majority of stake in the project, while InfraCo Asia will claim a minor stake along with Sunseap’s current partner, CMX RE Canada. The two firms have issued a joint statement declaring that the solar power project in Vietnam will provide employment to over 200 locals during the construction phase. They have further stated that nearly 30 long-term jobs will be created when the project becomes operational. The project is slated to become commercially operational by the end of the first half of 2019.

The Director of Sunseap has stated that the solar power project will attract more investments in the renewable energy projects across Vietnam and India-China region. InfraCo Asia’s CEO has also been quoted stating that the Ninh Thuan Solar Energy Venture is likely to benefit Vietnam’s power & energy sector, and in addition, would help create clean & reliable power across the nation.

According to the government of Vietnam, the installed capacity for solar energy, which is one of the key sources of renewable energy, is likely to be raised from nearly 6 MW to 7MW by 2017 and up to 850 MW by 2020.



About Author


Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

Read More

More from Dhananjay


Post Recommendents

Mindtree partners with Bengaluru’s IISc to support AI research
Author: Paroma Bhattacharya

Bengaluru-based IT service provider, Mindtree Ltd. has recently collaborated with the Indian Institute of Science (IISc), Bangalore to create an endowment focused on AI research, and facilitate teaching and resear...


Asia Pacific Passive Fire Protection Materials Market will grow at 9.5% CAGR up to 2024
Author: Rahul Varpe

Based on the end-users, building & construction segment for passive fire protection materials market is projected to grow with CAGR of about 8.5% by 2024. This is attributed to strong persistence by regional regulatory bodies primarily in emer...


Tata Group in talks of acquiring a controlling stake in Jet Airways
Author: Ojaswita Kutepatil

Tata Group is reportedly inspecting Jet Airways’ books as the multinational corporation considers to grow its footprint in India’s growing air travel sector by potentially purchasing a stake in the cash-str...