AC Energy, BIM Group to build 300 MW solar power in Vietnam
The energy arm of conglomerate Ayala Corp., has partnered with the BIM Group to jointly develop over 300 megawatts of solar power projects in Ninh Thuan province in Vietnam with the initial investment seen to reach P1.8 billion.
?AC Energy is very keen to participate in the fast-growing Vietnam power sector, with pioneering investments in renewable energy. We are delighted to partner with BIM group, which has a significant presence in Ninh Tuan province, which in turn has among the best solar irradiance in the country?, said Eric Francia, CEO of AC Energy.
The first phase of the project comprising 30 MW solar power broke ground Tuesday with Conergy Asia & ME as the construction partner.
Targeted to be completed within the year, the project is envisioned to be expanded by an additional 300 MW.
BIM Group is a diversified corporation in Vietnam, successfully establishing its mark in four main business fields namely tourism development and real estate investment, agriculture, food, commercial services and renewable Energy.
AC Energy, on the other hand, is one of the fastest growing regional energy platforms with development, operations and retail supply capabilities. With more than $1billion of invested and committed capital, the company is positioned to exceed 2,000 MW of attributable generation capacity and scale up its renewable energy portfolio to over 1,000 MW by 2020.