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Vietnam Receives Funding From ADB to Build Major Floating Solar Power Plant

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Thursday, 03 October 2019.
Written by Saigoneer.

If all goes to plan, the region's largest floating solar power plant is coming to Binh Thuan Province.

According to Vietnam Biz, on October 2, the Asian Development Bank (ADB) signed a US$37 million loan agreement with Da Nhim - Ham Thuan - Da Mi Hydropower Joint Stock Company (DHD) to fund the installation of the first floating photovoltaic (PV) solar power facility in Vietnam. It will also be the largest in Southeast Asia.

With a generation capacity of 47.5 megawatts (MW), these solar PV panels will be built on the surface of the man-made reservoir at DHD’s Da Mi Hydropower Plant in Binh Thuan. 

ADB officials believe that the project will help increase the proportion of renewable energy in Vietnam’s overall energy mix and reduce the use of imported fossil fuels such as coal. The PV solar power financing package includes loan from the ADB, the Canadian Climate Fund for the Private Sector in Asia, and Leading Asia’s Private Infrastructure Fund.

Experts believe that areas of central and southern Vietnam are suitable for solar energy development because they receive a desirable amount of solar radiation. In addition, installing the panels on water surfaces makes them easier to clean, run cooler, and avoid additional inconveniences such as the need to acquire extra land space.

DHD, a subsidiary of the Vietnam Electricity (EVN) Power Generation Corporation 1, owns four hydropower plants which account for 1.7% of Vietnam’s total generation capacity.

[Photo: A floating solar power farm in Huainan, China/NRDC]

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