TTC energy segment inks EPC contract with Sharp led consortium
TTC energy segment inks EPC contract with Sharp led consortium
Gia Lai Electricity JSC, a member of TTC Group, on February 23 signed an engineering procurement and construction (EPC) contract to implement Phong Dien Solar Power Plant in Thua Thien-Hue Province with a consortium comprising three contractors - Sharp Group (Japan), Sharp Solution Asia (SSSA, Thailand) and NSN Construction and Engineering JSC.
Sharp Group of Japan, which was established in 1912, leads the consortium.
After this EPC contract comes into effect, the consortium of Sharp – SSSA – NSN will officially become the contractor of the Phong Dien Solar Power Plant, which has a capacity of approximately 35MW and an estimated power output of 61,570MWh per year, nearly equaling the annual power consumption of around 32,628 households in Viet Nam.
Once completed, the plant will significantly contribute to promote local socio-economic development and add more renewable energy sources to the national grid system. Specifically, it will help reduce an estimated 20,503 tonnes of CO2 emissions per year, contributing to environmental protection, as well as global efforts to limit global warming.
Nowadays, utilisation of green - clean energy source is a big innovation in the energy industry that brings the optimal solution to save power and positive effect to the environment. Solar power is becoming a sustainable development trend in the future and contributing to preserve the limited energy resources for the world.
The TTC energy segment, with its main unit being Gia Lai Electricity JSC, has relentlessly boosted investment in clean energy resources and implemented pilot wind and solar power models in some potential localities, besides investing in hydro power projects.
TTC plans to achieve the capacity of 1,000MW of solar power and 40MW of wind power, accounting for 73 per cent of TTC energy segment’s total power capacity, and 222MW of hydro power and 150MW thermal power, accounting for 16 per cent and 11 per cent of its total power capacity by 2020.
Previously, TTC planned to deploy 20 solar power projects in several provinces, including Tay Ninh (324 MW), Binh Thuan (300 MW), Ninh Thuan (300 MW) and Gia Lai (49 MW), with a maximum investment of up to VND20 billion (US$987,555) per MW, an IRR (internal rate of return) of at least 15 per cent and payback period of less than 12 years.
Signing EPC contract and corporating with Sharp – SSSA – NSN is a milestone for the TTC energy segment to leverage each other’s strengths for effective co-operation and development and increase benefits for the community in the context of climate change in Viet Nam.
This also provides the foundation for TTC energy segment to complete its clean energy development roadmap and expand the scale of operations in line with international standards.
This is also a solution to help Viet Nam's energy industry be ready for new development opportunities and cope with challenges in the future.
TTC is a multi-industry corporation with nearly 40 years of operation, consisting of four corporations, one segment, and over 150 subsidiaries and joint companies. It has investments in several industries including real estate, energy, agriculture, education and hospitality.
