Singaporean and Taiwanese investors look to acquire stakes in two solar projects

Two companies from Singapore and Taiwan are looking to invest in two solar energy ventures in the central province of Quang Tri.

On January 3, Quang Tri Department of Planning and Investment said that it had sent a document to Quang Tri People’s Committee seeking opinions on the potential capital contribution and share purchase.

Two foreign companies, namely Taiwan’s Shinfox Energy Co., Ltd. and Singapore’s Camellia Energy Pte., Ltd., have expressed their intention to contribute capital to two solar power projects in the locality.

Each company wants to invest VND122.5 billion ($5.2 million) in Gio Thanh Energy JSC, the investor in the Gio Thanh 1 Solar Power Plant, accounting for 35 per cent of the charter capital. This would mean that foreign companies would account for 70 per cent of Gio Thanh Energy’s charter capital if the deal is approved.

Gio Thanh 1 Solar Power Plant is located in Gio Linh district. The project was completed in December 2020, covering an area of 65 hectares. With total capital of VND1.12 trillion ($47.3 million), the project has a capacity of 50MWp.

Six wind energy projects in Huong Hoa district have also sought approval to sell from 50 to 100 per cent ownership to foreign partners. Among them, Khe Sanh Wind Power JSC, the investor behind the Amaccao Quang Tri 1 Wind Farm project, proposed to transfer a 50 per cent stake.

The prospective parties include the Hong Kong-based CNNC Overseas International Investment Ltd. and Zhongyuan Foreign Engineering Co. Ltd., headquartered in Beijing.

Meanwhile, Sembcorp Solar Vietnam, under Sembcorp Group, is interested in purchasing stakes worth VND710 billion ($30 million) in Huong Phung Wind Power Co., the owner of the Huong Phung 2 and 3 plants, as well as taking over Gelex Quang Tri Energy Co., which owns the Gelex 1, 2, and 3 plants, for VND1.27 trillion ($53.6 million).

By: Thanh Van

Source: VIR