Natcore Technology, a solar cell manufacturer and next-gen technologies developer, has received governmental approval for establishing a 200MW solar project in Vietnam.
Natcore announced on August, 2016 to invest US$300 million in developing the 200MW solar project in Binh Thuan Province of Vietnam. The Province People’s Committee has officially approved development of the project along with confirmations by VietNam Electricity (EVN), Vietnam’s largest power company, and by the Ministry of Industry and Trade (MOIT), Vietnamese government ministry responsible for the advancement, promotion, governance, regulation, management and growth of industry and trade.
"We're extremely excited about the rapid advancement of this project and our achievement of these key benchmarks," says Natcore President and CEO Chuck Provini. "We expect to travel to Vietnam in the near future to finalize the next steps with our local partners."
Natcore is working on the project with a European developer of international renewable energy projects and a Vietnamese consortium. A holding company will be formed to develop the project. The governmental permission allows Natcore to execute its plan of completing the project in several phases with its partners that have already signed MOU. Natcore will be able to generate revenue befor the entire project is completed, noted by the company.
This project is an outgrowth of Natcore's "Best of Breed" program, under which the company functions as a consultant on the design and construction of solar cell/solar panel fabrication facilities and solar power farms. As part of this service, Natcore recommends a selection of manufacturing equipment to its clients. For the Vietnam project, Natcore has already received offer from suppliers of these components and services including modules, inverters, EPC, electrical substation, as well as design, engineering and supervision.
(Photo credit: Natcore)