Vietnamese Prime Minister Nguyen Xuan Phuc has requested the Ministry of Planning and Investment (MPI) propose suitable management solutions for solar power projects to ensure national security.
The Government Office released the directive to the MPI, the Ministry of Industry and Trade and relevant agencies after local media reported that a Thai investor acquired solar power projects in southeastern Binh Phuoc province.
The reports said Thailand’s Super Energy Corp Pcl (Super Energy) had announced that it had acquired the Loc Ninh 1, 2, 3, 4 solar power projects in Binh Phuoc after purchasing shares from intermediary companies for a cumulative $456.7 million.
Super Energy’s power projects in Vietnam have had a return on investment (EIRR) of 12-13 per cent while the Loc Ninh 1,2,3,4 solar power projects have much higher EIRR between from 16.59 per cent to 17.4 per cent.
Besides Thailand, many investors from Singapore, China and Philippines have owned many solar and wind power projects in Vietnam.
With massive solar power projects landing to many localities such as Ninh Thuan, Binh Thuan, Tay Ninh, Gia Lai, Hau Giang and Quang Ngai, the MoIT reported, by the end of last year, a total capacity of about 15,000MW from solar power projects have been approved by the prime minister and the MoIT to put into the Electricity Development Plan VII.
That has created difficulties in developing the electrical grid in the regions nationwide and building electric transmission infrastructure for solar power projects connecting the national electrical grid, said the MoIT.
https://www.phnompenhpost.com/business/vietnam-pm-wants-manage-solar-projects