Solar power plants in Nghe An face potential loss of approvals
Nghe An Solar Power Projects Face Delays and Potential Revocation
Two solar power projects in Nghe An, Vietnam, are facing delays and potential revocation of their approvals by local authorities. The Vuc Mau Lake and Khe Go Lake solar power projects, which were approved for investment by the Nghe An People's Committee in March 2022, have encountered unspecified issues that have led to the delay.
The Vuc Mau Lake solar power project, proposed by Vuc Mau Lake Solar Power JSC, has a capacity of 200 MWp and an initial annual electricity output of 265.8 million kWh. The project is part of the national power development plan. The Khe Go Lake project, proposed by Khe Go Lake Solar Power JSC, has a capacity of 250 MWp, a total investment of VND4.1 trillion ($164 million), and covers an area of 303.48 hectares.
The Nghe An provincial authorities are moving towards cancelling approvals for both projects due to the unspecified issues. However, the specific causes of the delay, such as financing, land use, or technical challenges, are not provided in the available information.
Meanwhile, other renewable energy projects in Nghe An are moving forward. For instance, South Korean conglomerate SK Group is considering investing $2.1 billion in a liquefied natural gas power plant in the province. Additionally, CME Solar has started installing rooftop solar power systems at Estec Vina factory on February 26. A consortium has also proposed an $850 million investment for a high-capacity battery plant for power storage in Ho Chi Minh City.
Pham Dang An, deputy general director of Vu Phong Energy Group, stated that the race is on to resolve financing, policy, and storage barriers in Vietnam's rooftop solar power sector. Rooftop solar has evolved from concept to commitment in Vietnam's energy transition goals.
While the future of the Vuc Mau Lake and Khe Go Lake solar power projects remains uncertain, it is clear that renewable energy continues to play a significant role in Vietnam's energy sector. The country is committed to reducing its reliance on fossil fuels and increasing the use of renewable energy sources. As such, it is expected that the issues facing the Vuc Mau Lake and Khe Go Lake projects will be resolved, and the projects will move forward, contributing to Vietnam's renewable energy goals.
- The delays and potential revocation of approvals for the Vuc Mau Lake and Khe Go Solar Power projects in Nghe An could impact the finance sector, as the projects require significant investment.
- Despite the challenges facing the Vuc Mau Lake and Khe Go Solar Power projects, renewable energy projects in Vietnam, including those in Nghe An, are receiving attention from international partners in the finance and energy sectors, such as SK Group and CME Solar.
