Pacifico Energy, an Asia based developer of renewable energy, is pleased to announce the commencement of operation of the 40 MWp Mui Ne Solar Power Plant in Phan Thiet city, Binh Thuan province, Vietnam.
Construction of the plant commenced on October 12, 2018 over a 98-acre area and will generate about 68 million kWh of electricity annually, reducing carbon dioxide emissions by 55,447 tons each year. Vietnam Electricity Corp. will purchase all of the electricity generated from the plant for a period of 20 years at $.93 per kWh as per Decision 11 made by Vietnam Prime Minister in 2017.
Dragon Capital Group is Pacifico Energy Vietnam’s strategic partner for this project. Orient Commercial Joint Stock Bank (OCB) is providing long term non-recourse project financing and Pacifico Energy will provide long-term asset management services.
The Engineering-Procurement-Construction Contractor was TTCL Vietnam Corp. (TVC), a unit of TTCL Public Co., originally formed as a joint venture between two leading engineering companies from Japan & Thailand, whom now has more than 20 years of experience as an engineering, procurement and construction contractor in Vietnam and throughout Asia.
Pacifico Energy is an international leader is developing, financing, constructing, and operating renewable energy power plants. With a focus on Asia, Pacifico has over 1GW of projects either operational or under construction across the region and has raised over $3.5 billion USD of debt and equity finance. Pacifico has offices in Vietnam, Japan, and Korea.