The Solkiss Company of the Republic of Korea will invest in a solar power project in Thac Ba Lake in Yen Binh district, the northern province of Yen Bai, a local official said.
Director of the provincial Department of Industry and Trade Truong Ngoc Bien said the project will combine wind, solar and water energy to produce electricity. The province and the RoK Company signed a memorandum of understanding (MoU) on the project early this year in Seoul.
According to the MoU, the province will assist the investor in conducting necessary survey and research as well as in implementing the project. The province will also negotiate with the Electricity of Vietnam (EVN) on electricity selling price.
|A power plant with a capacity of 500 MW will be built on Thac Ba Lake
The Solkiss Company will establish a Yen Bai-based Solkiss Company, and train local workers to work for the plant.
The company also pledged to bring more investors to explore investment potential in Yen Bai province.
President of the Solkiss Company Do Young Woo said the company will invest VND25 trillion (US$1.1 billion) in building the power plant with a capacity of 500 MW.
The Ministry of Industry and Trade expressed support of the investment project in the document No. 40/TB-BCT issued on February 23, 2017.
Do Duc Duy, Chairman of the provincial People’s Committee, called on the Government and relevant bodies to offer incentives for the project because it applies advanced and environmentally friendly technology.
He also pledged that the province will create the best condition for foreign investors, including Solkiss Company.VNA