Vietnam's MT Energy inks deal to develop 485MW of solar projects

The projects will be located in Binh Phuoc, Quang Tri, and Nghe An provinces.

Vietnamese energy firm MT Energy has partnered with European integrated independent solar power producer Scatec Solar to develop and operate large-scale solar projects in Vietnam which will have a total capacity of 485MW, an announcement revealed.

Also read: Investors look to inject $150b in Vietnam's power sector

The collaboration agreement covers three projects located in Binh Phuoc, Quang Tri, and Nghe An provinces. The projects are targeted to be realised under a new feed-in tariff (FiT) regime that is expected to launch later in 2019.

“As an affordable, fast and reliable source of energy, we believe solar energy has tremendous potential in Vietnam”, said Raymond Carlsen, CEO of Scatec Solar. Scatec Solar will provide the project’s equity funding, and will be the turn-key energy performance contracting (EPC) provider.