Industrial giant TTC Group eyes 1GW of solar projects in Vietnam

It plans investing up to US$1b for at least 10 solar parks.

Vietnamese industrial conglomerate TTC Group plans to invest up to US$1bn in developing ten to twenty solar parks with a cumulated capacity of up to 1 GW by 2018, according to Enerdata.

Its sugar subsidiary TTC Sugar would develop 200 MW of solar projects, while another subsidiary, Gia Lai Electricity, would develop another 800 MW. The group is currently in discussions with banks and financial institutions to finance the projects; TTC Group would fund 30%.

"Vietnam's new feed-in tariff and draft power purchase agreement (PPA) templates are raising interest for solar projects, especially in a context of rapidly increasing electricity demand: power consumption could double by 2025 and up to US$74bn could be invested in new coal-fired, gas-fired, wind, solar and hydropower plants by this date," Enerdata said.

This story was originally published by Enerdata.