This is the site of Vietnam’s first private grid-connected solar farm, the Phong Dien solar power plant, developed by Gia Lai Electricity Joint Stock Company (GEC)with IFC’s support. The 35megawatt (MW) plant generates about 60 million kilowatt hours–enough to power about 35,000 homes a year. “The sunshine strength is very good in this area,” says Nguyen Van Thien, chief engineer for the Phong Dien solar power plant. “That’s why this plant was established in the central region of Vietnam. In summer the plant reaches 35 megawattswhen the sun is hottest from 9am to 2pm.” The solar plant was built in just eight months and under budget—and it came at a significant time for Vietnam. The country, which has long relied heavily on coal and hydropower, faces a rising demand for energy. Demand in the electricity sector has grown at 13 percent a year since 2000 and is projected to continue to grow at 8 percent through 2030. Renewable energy can contribute to meeting this need—and IFC’s equity investment in the Phong Dien solar plantaimed to help spur renewable energy production across the country. To further support renewable energy projects in Vietnam, IFC invested $75 million in an infrastructure-focused listed green… Read full this story
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