HDBank, Sao Mai Group Work together to Develop Solar Power

11:07:49 AM | 1/2/2019

Sao Mai Group recently signed a comprehensive cooperation agreement with HDBank to launch a solar power project (Sao Mai Solar PV1) in An Hao commune, Tri Ton district, An Giang province.

Sao Mai Solar PV1 is one of the largest-scale projects in Southeast Asia covering 275 hectares, with a total generating capacity of 210 MW, investment capital of VND5,600 billion divided into 4 phases from now to 2020 and the expected electricity production of over 302 million kWh/year. Once completed, in the next 10 years, Sao Mai Solar Power Plant will have a total generating capacity estimated at 2.5 billion KWh/year, ensuring adequate supply of electricity for production and living of residential communities along the two border areas of Vietnam-Cambodia.

Sao Mai Solar PV1 will be combined with cultivation and culture of high-tech and clean agricultural products for export. Moreover, this project will also be developed into a tourist attraction model, creating jobs for many local workers. This is the project that will bring great value to the group not only in its abundant source of income but also in terms of economic and socio-political significance.

In phase I, HDBank will cooperate with Sao Mai Group to complete the solar energy project with a capacity of 104 MW to put into operation before June 30, 2019. Sao Mai Group has signed a Power Purchase Agreement with Vietnam Electricity Group, the National Load Dispatch Centre, Electric Power Trading Company and Southern Power Corporation at a price of 9.35 cents/ kwh. These cautious steps showed that Sao Mai was very methodical in business and investment to become a strategic supplier of solar electricity for EVN. In the near future, the Group is determined to achieve the goal of being the largest clean energy pioneer in Asia.

Sao Mai - one of the largest multidisciplinary economic groups in Vietnam-has nearly 10,000 employees working in 16 member companies nationwide in the fields of real estate, construction, aquaculture-processing, seafood export, refining high-grade cooking oil from fish, aquatic food processing, tourism business, supplying labour to foreign markets and solar power. In recent years, the Group has expanded its operations to some countries in the world (US, Japan, China and South Korea) in the above industries to well exploit the advantages of local human resources for market expansion and brand positioning.

Le Phuong