US firm eyes investment in renewable energy in Binh Duong

The US ACO Investment Group wants to implement renewable energy projects in Vietnam’s southern province of Binh Duong, Chairman and CEO of the group Hari Achuthan said at a working session with local authorities on February 22.

Wednesday, February 22, 2017 20:20

US firm eyes investment in renewable energy in Binh Duong ảnh 1

Participants took photo at the session (Photo: VNA)

Binh Duong (VNA) – The US ACOInvestment Group wants to implement renewable energy projects in Vietnam’ssouthern province of Binh Duong, Chairman and CEO of the group Hari Achuthan saidat a working session with local authorities on February 22.

He noted that the company is devising projectson two renewable energy plants in Vietnam, including the first solar powerfactory in Phuoc Dinh commune (Thuan Nam district) and Vinh Hai commune (NinhHai district) in the south central province of Ninh Thuan.

The construction of the plant, which isdesigned with a capacity of 100 MW and a total investment of 150 million USD,will be commenced in the third quarter of 2017 and put into operation in July2018.

The US group hopes to cooperate with Binh Duongto build a solar lighting system instead of the current high-pressure lamps, hesaid.

Vice Chairman of the provincial People’sCommittee Tran Thanh Liem welcomed the US firm to invest in renewable energyprojects.

With over 10,000 hectare of industrial land,Binh Duong is a suitable location to build a solar power plant, he said.

Along with Hanoi, Ho Chi Minh City, and DongNai, Binh Duong has a high consumption of over 1 billion kWh of electricityeach year. The power demand for production always surge, estimated at 12percent per annum, he noted.

Binh Duong is also one of the five leadingcities and provinces nationwide in drawing foreign direct investment with over2,800 FDI projects worth 25.5 billion USD.

In 2016, the locality attracted more than 2billion USD in FDI, including over 1.3 billion USD from 240 newly-licensedprojects and 675 million USD of capital increase from 123 existing ones.-VNA

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#US ACO Investment Group #renewable energy projects Binh Duong United States

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