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Completion of construction of 49.5MW Solar Power Plant in Vietnam

Idemitsu group completed its first solar power plant development in South East Asia to contribute to the expansion of clean energy in the region.

May,27,2019
Idemitsu Kosan Co., Ltd. (Head Office: Chiyoda-ku, Tokyo;
Representative Director and CEO: Shunichi Kito; hereinafter, “Idemitsu”) hereby announces that we have completed the construction of Idemitsu group’s first solar power plant in South East Asia. The 49.5MWDC power plant, in which investment was provided through Shoseki Overseas & Investment K.K. (hereinafter, “SOI”), group company of Idemitsu, and Viet Khanh Joint Stock Company, a co-investor of this project, has been built in Cam Ranh City situated in south Vietnam, and will contribute to the expansion of clean energy in the region.
The solar power plant was developed by Song Giang Solar Power Joint Stock Company (hereinafter, “SSP”), which was jointly established and co-invested in by SOI, Viet Khanh Joint Stock Company, a multifaceted Vietnamese company, and Dragonfly Capital Ventures LLC, an investment management company headquartered in New York. Construction of the solar power plant started in October 2018 and was completed on May 25th 2019 after 49.5MW worth of solar panels were laid out over approximately 60ha of land. The opening ceremony was held on May 25th 2019. The generated power will be sold to Vietnam Electricity, a state owned power company, for 20 years based on a feed-in-tariff scheme of the Vietnam government. The power generation is estimated to be approximately 78,600 MWh per year.

Vietnam’s demand for electricity is expected to grow, as its economy is currently going through stable growth. Idemitsu has developed a total of approximately 500MW of solar power plants in Japan and the United States, but this project is the first in South East Asia. Idemitsu will aim to acquire further skills and experiences in this business, and to contribute to the expansion of clean energy in South East Asia.
  • Overview of Power plant
    Overview of Power plant
  • Location
    Location

Project Overview

Project Owner Song Giang Solar Power Joint Stock Company (SSP)
Date Established December 5th, 2017
Shareholders (1) Shoseki Overseas & Investment K.K.
(2) Viet Khanh Joint Stock Company
(3) Dragonfly Capital Ventures LLC
Plant Capacity 49.5MW DC
Location Cam Ranh City, Khanh Hoa Province, Vietnam
Land Area 60Ha
Power Purchaser Vietnam Electricity
The opening ceremony
The opening ceremony
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