Solar power at the core of TTC’s green growth strategy
Solar power at the core of TTC’s green growth strategy
TTC Group, which invests into sectors including cane sugar, energy, tourism, and property, is increasing its use of solar power in order to execute its sustainable development targets.
The member companies of TTC Group are among the first in Ho Chi Minh City to install a solar energy system. Although the initial investment is high – about VND35 million ($1,600) per kilowatt, or more depending on the technology used – TTC has determined that installing this renewable energy source suits its orientation to grow sustainably. Moreover, all member companies of TTC are already targeting green and clean goals in their operations, ensuring that their technologies do not harm the environment and their sugar and agricultural products are clean.
TTC’s installation of solar power in their offices, their hotel system, and industrial zones will be conducted with the consultation of subsidiary Gia Lai Electricity Company (GEC). GEC is also researching potential locations to install solar panels in the central highlands and the southwest of the country by the end of this year. TTC plans to build sun farms and photovoltaic plants in places where at high temperature. Such areas may not be ideal for agriculture or industrial development, but they have huge potential for the development of solar power.
Solar energy is an effective and durable investment, which, in addition to being clean and renewable, affords the user some degree of self-reliance by freeing them from dependence on the national grid. Solar panels will have power output of more than 85 per cent of rated power in the first 15 years of use. In Ho Chi Minh City, households and companies that invest in a solar power system will be connected to the national grid. If the power generated by the individual household or company is higher than its demand, the household or company can sell it at between VND2,352 (11 US cent)/kWh and VND2,822 (13 US cent)/kWh.
The power generated by each individual household or company depends on the area of the panels and the technology. Even if the power generated at source is only equal to the amount needed, the household or company receives VND2,000/kWh (9.3 US cent/kWh) from the government, for at least the first year following installation. TTC is ready to co-operate with other companies that want to install a solar power system.
TTC Group has 23 subsidiaries located in several provinces throughout the central region, the central highlands, as well as the southeast and southwest of the country. In the energy sector, TTC has 19 small and medium hydropower plants throughout the country and 7 thermal power plants. These plants generate about 350 MW of power each year.
