India's Waaree Energies to set up 60-MW solar project in Vietnam
Being developed in central Khanh Hoa province, the project has been approved by EVN (Vietnam Electricity), the country`s sole electricity distributor, for 60 MW and is expected to generate 106,000 MWh of electricity per year, once commissioned.
Waaree energies, the flagship company of India's Waaree Group, said it has bagged a contract to set up a 60-MW ground mounted solar power project in Vietnam, Indian media reported.
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Being developed in Khanh Hoa province, the project has been approved by EVN (Vietnam Electricity), the country's sole electricity distributor, for 60 MW and is expected to generate 106,000 MWh of electricity per year, once commissioned, it added.
The power generated will be used for feed-in tariff, which will further aid in adoption of solar energy in the country, which has set a target to set up 12,000 MW of solar power capacity, the statement said.
"Waaree Energies has been a preferred EPC player in India, and is committed towards making solar energy affordable and accessible. We plan to extend this commitment globally and are actively looking at opportunities that aid transition to solar power," Sunil Rathi, director- sales and marketing of Waaree Energies, was quoted by India's the Economic Times as saying.
Waaree Energies has a solar photo voltaic module manufacturing capacity of 1,500 MW and is working on a pipeline of 100 MW capacity projects to be executed over the next six months globally apart from 250 MW projects being developed domestically.
According to a master plan, solar power is expected to become the main new renewable energy source in the future, with installed capacity to be increased from around six to seven MW at the end of 2017 to 850MW by 2020, accounting for 1.6% of the country's power generation and 12,000MW by 2030 or 3.3% of Vietnam's power generation.
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