JGC Corporation has announced that its overseas affiliated company JGC Vietnam Co. Ltd. had been awarded a contract for the construction of a mega-solar power generation project planned in Krong Pa District, Gia Lai Province, Vietnam, by Gia Lai Electricity Joint Stock Company, a subsidiary of TTC Group.
The lump sum turnkey contract covers the engineering, procurement, construction and commissioning (EPCC) work for the mega-solar power generation plant with delivery in autumn 2018.
The plant is planned to have a capacity of 49MW (AC), making it among the largest such facilities in Vietnam.
Gia Lai Electricity Joint Stock Company is a member of TTC Group. TTC is a multi-industry corporation with nearly 40 years of operation, consisting of four corporations, one segment, and over 150 subsidiaries and joint companies.
It has investments in several industries including real estate, energy, agriculture, education and hospitality.
The TTC Energy segment, with its main unit being Gia Lai Electricity JSC, has invested heavily in clean energy resources and implemented pilot wind and solar power models in some potential localities, besides investing in hydropower projects.
TTC plans to achieve the capacity of 1,000MW of solar power and 40MW of wind power, accounting for 73 percent of the TTC Energy segment’s total power capacity, and 222MW of hydropower and 150MW thermal power, accounting for 16 percent and 11 percent of its total power capacity by 2020.
Previously, TTC planned to deploy 20 solar power projects in several provinces, including Tay Ninh (324 MW), Binh Thuan (300 MW), Ninh Thuan (300 MW), and others with a maximum investment of up to VND 20 billion (US$988) per MW, an IRR (internal rate of return) of at least 15 percent and a payback period of less than 12 years.
Signing an EPCC contract and cooperating with JGC Corporation are a milestone for the TTC Energy segment to leverage each other’s strengths for effective cooperation and development and to increase benefits for the community in the context of climate change in Vietnam.
“This also provides the foundation for the TTC Energy segment to complete its clean energy development roadmap and expand the scale of operations in line with international standards,” said a TTC representative.
This is also a solution for helping Vietnam's energy industry be ready for new development opportunities and cope with challenges in the future.