Solar panel plant will help energise Hue region

October 22, 2012 | 10:32

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The central province of Thua Thien-Hue has endorsed plans in principle for locally-invested WorldTech Transfer Investment to build a solar panel plant there.

Under the company’s proposal, it would team with United Arab Emirates’s Global Sphere to build this plant in the province’s Phong Dien Industrial Park. The project will be tested and certified by global standard laboratories in accordance with stringent requirements in the solar energy industry.

Total proposed capital is $310 million for a plant covering 40 hectares for phase one, according to a source of Thua Thien-Hue Provincial Industrial Parks Management Authority.

Greater details including the total capacity of the proposed plant and related infrastructure would be released later, the source said. Currently, the plans are collecting reviews and comments from relevant authorities.

With a 120-kilometre coastline, pure climate and a famous landscape, Thua Thien-Hue province is both home of the ancient capital of Vietnam and viewed as promising area for local and foreign investors.. As of September 2012, the province boasted 65 projects with the total registered capital of $1.9 billion.

There are two licenced solar panel projects in Vietnam - US-based First Solar’s $1.2 billion solar panel factory in Ho Chi Minh City and domestic invested IC Energy Industry Company’s $390 million project in central Quang Nam province.

However, both of them have stalled their investment plans due to the supply-demand imbalance in the world market.