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May 3, 2016

CMX plans to build solar PV plant in Ninh Thuan, Vietnam

Canadian company CMX Renewable Energy is reportedly planning to construct a 150MW solar photovoltaic (PV) power plant worth $150m.

By Lopamudra Roy

Canadian company CMX Renewable Energy is reportedly planning to construct a 150MW solar photovoltaic (PV) power plant worth $150m.

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News website Dau Tu reported that the company is awaiting approval for the project, which would be developed in Vietnam’s central province of Ninh Thuan over an area of 250ha.

A company executive stated that nearly 1% of the plant’s generation would be supplied to local residents for free.

CMX is looking for a licence to build the plant at a time when the Vietnamese Government is drafting policies to motivate more private investment in its PV sector.

"Vietnam receives nearly 2,000-2,500 hours of sunlight every year and solar energy capacity is equivalent to 43.9 million tonnes of oil."

According to one of the plans being considered, state monopoly Electricity of Vietnam and other electricity distributors will have to purchase the entire power generation capacity of solarpower plants in ten to 20 years, reported media sources.

Vietnam receives nearly 2,000-2,500 hours of sunlight every year and solar energy capacity is equivalent to 43.9 million tonnes of oil.

The country is also building its first large-scale 19.2MW solar PV plant in central province Quang Ngai. This 36.12m plant has been built by Vietnamese investor Thien Tan Group.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
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