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Sao Mai annually earns VND1 trillion from solar power
By Kim Ngan
Friday,  Jan 8, 2021,12:14 (GMT+7)

Sao Mai annually earns VND1 trillion from solar power

By Kim Ngan

Sao Mai Group’s solar power business has grown strongly as the group has developed three huge solar power plants over a span of less than three years at a combined cost of more than VND7.2 trillion in the Mekong Delta provinces of Long An, Dong Thap and An Giang.

These plants are the group’s meaningful achievements in the lead up to the 13th National Congress of the Communist Party of Vietnam and the spring.

A solar power plant in the Cam Mountain area in An Giang Province.

In 2020, while thousands of other enterprises were affected by the Covid-19 pandemic and natural disasters, Sao Mai was among a few enterprises which had been able to ride out the hardships caused by the pandemic and met its revenue target earlier than expected thanks to its successful investment in solar power and experience tourism.
Sao Mai’s solar power plant in An Giang Province has been successfully connected to the national grid. The group’s thinking, visions and scientific investment methods appropriate to the trends and developments in specific periods have made its solar power plant a model project that combines solar power generation, medicinal herb cultivation and experience tourism.

This is a key to overcome all challenges when the group has adopted optimal solutions to effectively tap valuable resources in the That Son (Seven Mountains) area, including soil, weather, mineral water, natural landscapes, sunlight and local human resources.

In May 2017, Sao Mai Group pioneered in installing the first rooftop solar system with a capacity of 1.06 megawatt peak and an investment of US$2 million on the roof of IDI Company’s factory, the largest solar system at the time. With this system, IDI Company, an arm of Sao Mai Group, can save at least 20% of its annual electricity cost. IDI has been also recognized a pioneer in using clean energy in the processing of seafood for export by international organizations fighting climate change.

Given that success, in 2019 and 2020, Sao Mai launched a financial package worth VND4.2 trillion for two important projects. Of the total, VND1.2 trillion was used to acquire the Europlast project in Long An Province’s Duc Hue District from a foreign investor and turn it into a successful solar power plant with a capacity of 50 megawatt peak.

The group had also started work on a solar power project in An Giang Province’s Tinh Bien District with a capacity of 104 megawatt peak and an investment of VND3 trillion in the first phase. After only four months, the first phase of the plant, which would a total capacity of 210 megawatt peak, was completed in June 2019 together with the solar power plant in Long An Province.

In mid-September 2020, the second phase with a capacity of 106 megawatt peak was kick-started to install main equipment. With a strong determination, the second phase, which required more than VND3 trillion, was completed one month earlier than originally planned and the project was connected to the national grid at 11 p.m. on December 2, 2020. Sao Mai started making revenue from the plant from December 15 last year.

Sao Mai’s 210-megawatt-peak solar power project is connected to the national grid on December 2, 2020.

“The 210-megawatt-peak solar power plant worth VND6 trillion in Tinh Bien District of An Giang Province is a key project in Sao Mai’s clean energy development strategy. Therefore, we have prioritized resources to complete it. During the project’s execution, the group has faced multiple difficulties due to the short construction period, the Covid-19 pandemic, the shortage and higher prices of equipment and especially site clearance problems. However, thanks to the group’s strong determination, An Giang authorities’ support, prompt direction and creativity as well as Tinh Bien District’s wholehearted and enthusiastic support, all obstacles were removed. The plant has exceeded its targets,” a Sao Mai representative said.

From 2021, the plant in An Giang will contribute nearly 400 million kilowatt hours to the national grid. It can be said that the success of the project has not only helped Sao Mai make great strides in its clean energy development journey but also featured the support and companion of the An Giang government to enterprises. The province has always worked for a wonderful investment environment and a prosperous An Giang.

With its solar power plants, Sao Mai has earned additional revenue of VND1 trillion per year, contributing to its sustainable development. The group has made financial resources available to get ready for many key real estate-renewable energy projects across the country.

The Sao Mai solar grassland in association with ecotourism.

The group has helped Vietnam get a higher position on the global renewable energy generation map. Sao Mai has been recognized among the top 10 clean energy producers as it has contributed significantly to ensuring the country’s energy security and been a new and active force in the clean energy trend in Vietnam.

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