AC Energy, Ayala’s energy platform, and the BIM Group of Vietnam launched the 330-megawatt solar farm in Ninh Thuan province on April 27.
The inauguration and ceremonial switch-on was led by Vietnam’s Deputy Prime Minister Vu Duc Dam, Ninth Thuan Provincial Party Secretary Nguyen Duc Thanh, Ninh Thuan Chairman of People’s Committee, Mr. Luu Xuan Vinh, Ayala Corporation President and Chief Operating Officer Fernando Zobel de Ayala, and BIM Group Chairman Doan Quoc Viet.
The BIM\AC Renewables solar farm, which sits on over 300 hectares of land, is one of the largest solar farms in Southeast Asia and equipped with the latest technology to ensure efficient operations. It is expected to generate 545 million kWh of renewable energy annually and generate income and jobs for the province of Ninh Thuan.
The solar farm, comprising three facilities with installed capacities of 30 MW, 250 MW, and 50 MW, respectively, is the first project under BIM\AC Renewables, the renewable energy development platform of AC Energy and the BIM Group.
Construction of the US$294 million solar project, which started in January 2018, took 14 months and employed approximately 2,000 workers throughout the construction phase. Rizal Commercial Banking Corporation (RCBC) was the sole lender, providing non-recourse project financing of US$232 million.
The commissioning of the solar farm – AC Energy’s maiden project in Vietnam – marks a milestone in company’s regional expansion as it aims to reach its target of 5 GW of renewable energy capacity by 2025, with renewables contributing at least 50% of total energy output.