Indian solar engineering, procurement, construction (EPC) company Sterling and Wilson is planning to build 300MW solar photovoltaics (PV) plants in Vietnam by June next year.
The project will be built for an undisclosed client in Vietnam with whom the company is currently carrying out advance discussions.
The 300MW project is expected to attract a $250m investment.
Sterling and Wilson renewable energy and energy storage CEO Bikesh Ogra said: “Vietnam is one of the fastest growing economies in the world with nearly 8% to 10% annual increase in power consumption by industries who are the largest consumers of electricity in the country.
“The government is aiming at 0.8GW of solar power by 2020, which the experts feel has a potential of 7GW of solar projects in present conditions. We are closely working with leading developers to join the larger aim of bringing affordable and clean energy to Vietnam.”
Upon completion, the project is expected to generate 270 million units of energy and reduce 250,000t of CO2 emissions per annum.
The company intends to support regional socioeconomic development by hiring local workers for the construction and maintenance of the solar project.
During the construction phase of the project, Sterling and Wilson is planning to create nearly 700 jobs in the region and intends to hire 50 people for the maintenance of the project for a period of 20 years.
Sterling and Wilson has completed more than 50MW of solar PV plant projects in the Philippines, while a 60MW project in Bangladesh is currently in the commissioning phase.
Sterling and Wilson is currently constructing a 1.7GW of solar PV plant in Abu Dhabi, which is reported to be the world’s largest single location solar PV plant to date.