Risen Energy further strengthens Vietnamese PV market
Bitexco's 50 MW PV project in Vietnam has been successfully connected to the grid
NINGBO, China, July 2, 2019 /PRNewswire/ — Keeping costs under control and establishing an affordable connection to the grid are the two keys to success for PV makers operating in international solar markets, with maximization of the benefits that PV power stations can deliver to a local community becoming the key factor for major PV companies wishing to enhance their competitiveness. Risen Energy, a leading China-based PV solutions provider that's traded as an A-share on China's Shenzhen Stock Exchange, recently announced that the NHI HA 50MW solar power station project owned by Vietnam-based Bitexco Group's subsidiary Thap Cham Solar, from which Risen Energy won the bid last October, has been successfully connected to the grid. The high quality of the project makes it one that is representative of PV facilities connected to the grid in Vietnam prior to June 30, allowing the facility to benefit from the country's nationwide feed-in-tariff (FiT) subsidy for PV installations.
Bitexco Group is one of the top ten shopping mall and hotel developers in Vietnam, in addition to being a provider of hydraulic engineering as well as road and highway engineering services. Its subsidiary's 50 MW facility is located in Ninh Thuan, Vietnam. Risen Energy, the engineering, procurement and construction (EPC) contractor, provided the facility with 5 main-grid 1500 V high-voltage components. Risen Energy said that the successful grid connection does not only help the company benefit from the subsidy, but also give local residents access to environmentally responsible and clean PV power. The facility will also further improve and optimize the local energy structure in Vietnam.
Vietnam, a Southeast Asian country in which over 85% of the PV power stations (when measured by size) belong to the country's public utilities, is set to achieve installed capacity of 12 GW of PV plants by 2030. With the aim of further promoting development of the Vietnamese PV market, the government is considering introducing new PV incentives, and will set the terms of the subsidies based on the solar radiation intensity and project type in different regions. Before implementation of the new policy, power stations connected to the grid in Vietnam were enjoying a price of 9.35 US cents per kilowatt hour (kWh).
Zhuang Yinghong, global marketing director of Risen Energy, said, "With Risen Energy's efficient technologies and strong teamwork capability, the project has progressed successfully to a grid connection before the June 30 deadline. Prior to this project, Risen Energy's 61MW PV project with Tasco, a Vietnam-based company, had also been connected to the grid. These projects enhance our confidence in further expanding into the Vietnamese market. We are now accelerating the development of our portfolio in markets outside of our home country according to our roadmap, with the goal of raising the awareness of our brand as well as our leadership role in overseas markets. "
SOURCE Risen Energy Co., Ltd