Sao Mai Group Steps up Renewable Energy Development in Dak Nong Province

“Costing VND12 trillion (US$521 million), Sao Mai - Dak Nong solar power plant has an installed capacity of 875 MWp. Covering ​​754 ha, the project is located in Cu Jut district, bordering Dak Lak province, about 20 km from Buon Ma Thuot City. This position gives an advantage of ground traffic for the project, which will be an important driving force for urbanization development in the vicinity of Buon Ma Thuot City, one of eight provincially governed tier-one cities of Vietnam,” Mr. Le Thanh Thuan, General Director of Sao Mai Group, the strategic renewable energy investor in Dak Nong province, affirmed to Chairman of the Provincial People’s Council Le Dien and local authorities on September 30.

In early 2004, Dak Nong province was split from former Dak Lak province under Resolution 22/2003/QH11 dated November 26, 2003, of the National Assembly. Many famous landmarks are known to visitors far and wide, for example Ea Sno Lake, Chu Bluk Volcanic Cave - the longest of its kind in Southeast Asia, Ta Dung National Park - likened to the “Ha Long Bay of the Central Highlands.” In addition to tourism, Dak Nong has other advantages: Mining industry and high-tech agriculture spurred by the agricultural processing industry. Lying on basalt earth, Dak Nong has up to 2,600 hours of sunlight a year. Average solar radiation is 150 kcal per square meter, accounting for about 2,000-5000 hours a year. This is one of advantages to boost solar power development.

To attract investors, Dak Nong province has supported building a modern government by accelerating administrative reform, enhancing information technology application, improving environmental investment, setting up an administrative center to provide key administrative procedures for businesses.

Among investors seeking investment opportunities, Sao Mai Group appeared to be a heavyweight “candidate” when it realized that Dak Nong had a good investment climate and local officials were friendly and responsible at work. These positive signals created confidence for Sao Mai Group to invest a lot of money in this potential land to generate solar power and grow rubber for export.

In just three years, Sao Mai Group has become known as a very new phenomenon in the renewable energy industry for its deployment of many large projects in Dong Thap, An Giang and Long An provinces, costing over VND10 trillion. Not only running solar farms, Sao Mai Group has also made solar farms extremely unique and attractive outdoor exploration and picnicking sites. This very difference is a clear demonstration of ASM’s tourism development strategy: Not confined in backward thinking but tap local surface potential.

Going public in 1997, Sao Mai Group has become a very professional and successful real estate business. From this first field, the group has gradually expanded into many new industries. Currently, Sao Mai Group is known as a leading investor of renewable energy, among the five largest seafood processors and exporters, a strategic ecotourism investor in Vietnam, and a reputable manpower exporter to the global market, especially to Japan. Sao Mai Group currently has more than 10,000 employees working in 16 member companies. The group pays a handsome amount of tax to the State Budget each year.

Appreciating its capacity and goodwill, the leaders of Dak Nong province expect Sao Mai Group would bring new vitality to the locality and improve the life of highlander communities. Sao Mai Group is expected to become a renewable energy developer that uses solar farms as popular tourist destinations and pledges to turn Gia Nghia into a bustling city, a valuable contribution for Dak Nong province to fulfil its socioeconomic development target set by the Party Congress of Dak Nong province (2020-2025 term).

By Ha Vi, Vietnam Business Forum