Its first phase will cost $35.02m.
Ayala-owned AC Energy unveiled that it has broken ground for a 30MW solar power JV in Vietnam. The project, in partnership with local firm BIM Group, is the initial phase of a much larger solar PV development that's over 300MW in capacity.
The first phase is being built by Singapore firm Conergy Asia & ME Ltd and costs around $35.02m (Php 1.8b) and will be completed within 2018.
“AC Energy is very keen to participate in the fast-growing Vietnam power sector, with pioneering investments in renewable energy,” AC Energy chief executive Eric Francia said.
Conergy said construction would kick off in April and will go online by December.
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