PEN News

PEN-VN Signs Vietnam's First Power Purchase Agreement

11/1/2017

PEN-VN Signs PPA with EVN

Son Nguyen (Center Left), Minh Vu (Center), Dinh Thanh Van (Center Right)

Where many large corporations have struggled and failed, Pacific Energy Network (PEN) is the first independent U.S. company to pioneer clean solar energy into Vietnam. PEN-VN, a special purpose vehicle of PEN, has successfully executed the first Power Purchase Agreement (PPA) with Electricity of Vietnam (EVN) to develop a 13.2-MW peak solar farm in An Giang Province.

The highly anticipated day arrived on October 31st, 2017, when Mr. Minh Vu, President of PEN-VN, Ms. Dinh Thanh Van, Vice President of PEN-VN, and Mr. Son Nguyen, Director of EVN, attended the signing ceremony to sign the PPA for the development of Binh Hoa 13.2-MW Solar Farm. This marked a momentous event in Vietnam history as it is the first large-scale, grid-tied solar farm to support Vietnam's renewable energy initiative promoting clean and sustainable energy.

After years of dedication and commitment, PEN-VN is eager to break ground on the solar project. Looking across 132 hectares of Binh Hoa Industrial Park, PEN has already envisioned how it will soon construct the solar farm on the serene site.

Binh Hoa 13.2-MW Solar Farm Site

www.prlog.org/12707281-pen-vn-signs-vietnams-first-power-purchase-agreement.html
www.pv-tech.org/news/pen-vn-starts-constructing-13mw-solar-project-in-vietnam

PEN BUILDS VIETNAM'S FIRST SOLAR FARM

4/1/2015

PEN-VN, our special purpose company in Vietnam, will be building a 13.2-MW peak solar farm project in Binh Hoa Industrial Park, An Giang province, Vietnam, on a build, own and operate (BOO) basis. The project has 12 MWp capacity of solar power by using photovoltaic (PV) modules and ground-mount, fixed-tilt support and ancillary systems.

In addition to building the solar farm, PEN-VN plan to develop a manufacturing facility for solar photovoltaic modules and an array of electrical components. The two projects will be implemented independently but may progress simultaneously.

PEN DEVELOPS BANGLADESH'S FIRST ULTRA SUPER-CRITICAL 1320-MW COAL-FIRED POWER PLANT

1/1/2015

In an effort to diversify its investment portfolio in power generation, PEN and its long-time business partner, Lone Star Energy, have entered into an agreement with the Bangladesh Navy, and several other companies including, Central Southern China Electric Power Design Institute (CSEPDI), a Chinese government-owned enterprise, and Hong Kong Dongshi (HKDS), a privately owned, Hong-Kong-based company, and Interport BD to develop a 1320-MW coal-fired power plant on the south side of the Dhalghata Island.

PEN is proud to be a key member of the developer's team. We are also honored to be selected as the engineering firm for the project working in collaboration with these esteemed companies. The 1320-MW coal-fired project will be implemented using ultra-supercritical boilers and the latest proven clean-burning coal technology to achieve the highest thermal efficiency. The power plant, which costs approximately $2.7 billion, is currently scheduled to be commercially operational in December 2020.

Bangladesh is facing a major shortage of electric power. Our South Dhalghata Island project will help curb the country's power shortage. It will directly contribute to the country's economic growth by accommodating the increasing power demand of existing and emerging industries in Bangladesh.

The newly started power plant, which will be commercially operation in 2020, will contribute 7.6% (1,320 / 17,304) to the power demand. If Bangladesh’s elasticity at the time were 1.4, then new power plant will contribute 5.2% to the overall GDP. Subsequently, the impact of the project to the GDP in 2020 would be Tk 942.97 billion (Tk 18, 134 billion * 5.2%).

PEN-VN Signs Vietnam's First Power Purchase Agreement

PEN BUILDS VIETNAM'S FIRST SOLAR FARM

PEN DEVELOPS BANGLADESH'S FIRST ULTRA SUPER-CRITICAL 1320-MW COAL-FIRED POWER PLANT

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