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Sao Mai solar power continues to thrive post-pandemic
Cao Tam
Thursday,  Oct 8, 2020,15:51 (GMT+7)

Sao Mai solar power continues to thrive post-pandemic

Cao Tam

Sao Mai Group (ASM) is ready to develop a huge solar photovoltaic power plant in combination with hi-tech agriculture production in the Central Highlands province of Dak Nong. In the initial stage, the group spent hundreds of billions of Vietnamese dong taking over and developing Vinh An Co. Ltd. headquartered at Cu Jut District. ASM has some 1,000 hectares of land available from the firm, serving as a prerequisite for the establishment of a solar power farm worth up to VND12 trillion, with a capacity of 875 megawatt peak (MWp).

Detailed information about the project set to be deployed in the Central Highlands region was presented by Le Thanh Thuan, general director of Sao Mai Group, at a meeting with the Standing Board of the Party Committee of Dak Nong Province in late September. Highly evaluating Sao Mai Group’s goodwill and financial health, the leader of Dak Nong Province pledged to support it and create favorable conditions for the group to develop the project successfully.

A view of the meeting between Sao Mai Group and the Standing Board of the Party Committee of Dak Nong Province.

After the meeting, Nguyen Bon, Party deputy secretary and chairman of Dak Nong Province, led a delegation comprising the leaders of the provincial departments and districts to make an on-site visit to Sao Mai Group’s solar power plants in the Mekong Delta provinces of An Giang, Dong Thap and Long An.

In late 2020, Sao Mai Solar will add some 400 million KWh of electricity per year to An Giang Province’s power grid. Sao Mai solar power plants are expected to generate some 500 million KWh of electricity per year. After the group’s solar power projects, excluding its solar power plant project in Dak Nong Province, are completed as planned, the total output of power will be some 2.5 billion KWh per year in the next 10 years. In the first few months of this year, in spite of the impact of the coronavirus pandemic, Sao Mai Group earned over VND300 billion in revenue from the solar energy development, lifting its gross profit margin to 80% in this sphere, much higher than that of other major investments of the group. The figure has reflected the strong attraction of renewable energy investment.

Nguyen Bon, chairman of Dak Nong Province, speaks at the meeting, committing to create favorable conditions for Sao Mai Group to develop its project in the province.

Witnessing a team of local and foreign engineers and workers at work at Sao Mai Solar, Nguyen Bon affirmed that the province’s departments would create the most favorable conditions for the strategic investor.

For such a highly-potential locality as Dak Nong Province, it is necessary to adopt appropriate and effective exploratory measures, stressed Le Thanh Thuan. In addition to the investment in renewable energy, Sao Mai Group will deeply invest in other major fields, including urban development, seafood farming and processing, tourism and labor export. As such, to make it successful, the unanimity, cooperation and consistency of the entire locality plays a key role.

Representatives of Sao Mai Group and Dak Nong Province pose for a group photo.

Developing wind and solar power projects are being prioritized by the Government and experts as power sources from solar and wind power, which is eco-friendly, abundant and free, are considered effective and ideal solution for the country’s power supply. Realizing the big opportunity, Sao Mai Group is determined to create momentum for its fast and sustainable post-Covid-19 growth and continue to be a pioneer of the clean energy in the fourth industrial revolution.                                                                                                             

Reach more:

Sao Mai Group benefits from Dak Nong’s abundant sunlight

Desire to be leader of the crane flock in renewable energy

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