The BIM 1 plant, which is the first solar project commenced in Ninh Thuan, will cover an area of 35 hectares with a total investment capital of 30MWp. With 90,000 solar panels and other modern equipment installed, the farm is expected to generate about 50 million kWh per year when it is put into operation.
As planned, the solar plant will be connected to the national grid in the third quarter of this year, which will be the foundation for BIM Group to develop its other large-scale solar projects with a total electricity generation of 300MW in the first quarter of 2019.
BIM Group is currently investing in real estate and agriculture with township and resort projects under construction in northern Quang Ninh province and southern island of Phu Quoc.
Doan Quoc Viet, Chairman of BIM Group said: "We believe that the construction of BIM 1 solar farm will provide a clean and environmentally friendly energy source, which helps contribute to energy security, climate change mitigation, and the economic benefits."
Renewable energy, especially solar and wind energy, is a field into which Vietnam’s Government is strongly encouraging the investment thanks to its sustainability and environmental friendliness.
In the context that fossil energy sources are gradually depleted, while the demand of electricity for economic development and improvement of people's living standards in Vietnam is increasing, the development of clean and renewable energy sources is inevitable.
According to the solar radiation survey, Ninh Thuan and Binh Thuan are the two most promising provinces for renewable energy development.
Currently, there are about 27 investment projects registered in the field of renewable energy in Ninh Thuan with a total capacity of 2,680MW, including 15 solar power and 12 wind power projects.