• VND6 Trillion Solar Farm Completed

    Sao Mai Group held a ceremony to announce the completion of Sao Mai - An Giang Solar Power Plant on January 12, 2021, replacing the customary “inauguration” event in a bid to prevent the Covid-19 epidemic contagion. With a flexible and effective approach, Sao Mai Group achieved the so-called dual goal of preventing the epidemic and successfully adding VND1,000 billion of solar power revenue in the turbulent year of 2020.

    All the savings from the ceremony and together with the group's welfare fund will be transformed into "Spring of Love" gifts for flood-hit families in the central region and for poor households inside and outside An Giang province, particularly Tri Ton and Tinh Bien mountainous districts. The culture of sharing imbued with humanity has conveyed the message of loving our people and enjoying the colors of happiness together in the New Year.

    Not staying out of the global trend of shifting from fossil energy to renewable energy, Sao Mai Group's approach to solar power positively responds to both policies and practices of the Government. December 31, 2020 was the deadline for solar power projects to apply only fixed feed-in tariffs as per Decision No. 13/2020/QD-TTg. Slowing moving projects will be subjected to “a competition mechanism”. Completing far before the deadline, Sao Mai - An Giang Solar’s feeding into the national grid was a great success.

    Looking back on the construction process with the impressive slogan “Spectacular Lightning”, the investor spared no effort to complete this project ahead of time. The total time to complete the 210 MWp photovoltaic plant, costing more than VND6,000 billion and covering ​​275 hectares in Tinh Bien district - An Giang province, is fewer than 365 days. In particular, Phase 1, with a capacity of 104 MWp, energized in June 2019, helped Sao Mai Group stabilize cash flows right in the time the world economy faced a double crisis caused by Covid-19 epidemic. Phase 2 was fed into the power grid on December 2, 2020, just 80 days of construction. The revenue of electricity sold to EVN was established on December 15, 2020. Thus, from 2021 onwards, the power generator in An Giang will produce nearly 400 million kWh of electricity per year for the national grid.

    To complete the construction in a limited time fund amid the raging Covid-19 epidemic, material shortages, rising equipment prices, and the most stressful site clearance, with the resolution of the investor, the close support and guidance of local authorities, the assistance of Tinh Bien administration and the support of local people, all matters were settled.

    The presence of the solar power plant in Nui Cam Mountain has completely changed the sacred mountain to a source of light. This reality made many people think that the sparkle of the mantra “Open Sesame” is no longer legendary. The strategic investor painstakingly processed the treasure of raw resources into a bright "green spade" to improve the life quality of the mountainous community. At the macro level, Sao Mai Solar Power Plant will increase local budget revenue, create jobs for local workers, and accelerate local economic growth targets. The gigantic project is a meaningful welcome of Sao Mai Group to the An Giang Provincial Party Congress of the 2020 - 2025 term and to the 13th National Party Congress.

    Previously, in June 2019, Sao Mai Group successfully restarted the 50-MWp Solar Power Plant in Duc Hue - Long An, becoming a renewable energy farm in the bordering area near the north of Cambodia. The M&A deal of the foreign-invested Europlast project came with the group’s financial package of up to VND1,200 billion to realize the roadmap into the renewable energy industry. With the new owner, the Sao Mai - Long An Solar Power Plant achieved high business performance, increased revenue for the group, and eliminated poverty in the acrid acidic land.

    In May 2017, a landmark event that marked the historic progress of Sao Mai Group when it successfully energized the rooftop PV plant on the roof of IDI Factory. The 1.06-MWp facility, the biggest of its kind in Vietnam at that time started generating electricity. The US$2 million plant has saved a lot of money for the factory each year. Sao Mai Group has helped alleviate the thirst for renewable energy and implicitly reaffirmed its use of renewable solar power for processing seafood for export was absolutely right. This illustrated a very convincing vision of the group.

    In the next 10 years, Sao Mai thermal power plants will have a total output capacity of 2.5 billion kWh of electricity a year. Furthermore, Sao Mai Group is aspiring to make rice fields as destinations for leisure sightseeing and picnicking to utilize soil resources. The next roadmap is being done in full force, the shape of a green farm is gradually revealed under the layer of solar cells.

    Sao Mai solar power plants ensure national energy security, stir up the bustling atmosphere for the renewable energy industry. After completing the solar plant ahead of time, Sao Mai Group has added new growth motivations and polish its images among Top 10 clean energy producers in Vietnam.

    Hai Yen (Vietnam Business Forum)

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