The Board of Management of Thailand's Super Energy Corporation Company Limited (Super Energy) in late March 2020 sent a letter to the Thai Securities Commission announcing the decision to spend nearly $ 456.7 million to invest in 4 solar power plant projects, including Loc Ninh 1 (200 MW), Loc Ninh 2 (200 MW), Loc Ninh 3 (150 MW) and Loc Ninh 4 (200 MW) in Binh Phuoc province (Vietnam).
Super Energy specifically lists each investment in each projects. Specifically, the investment in Loc Ninh 1 is 99.7 million USD; in Loc Ninh 2 is 140 million USD; in Loc Ninh 3 is 105 million USD and in Loc Ninh 4 is 112 million USD.
Previously, when approving this investment in the meeting on 25/3/2020, the Board of Management of Super Energy stated that the above projects will help enhancing the business competitiveness of the enterprises.
According to Super Energy's calculations, Loc Ninh 1's profit before tax within 20 years with the electricity price is fixed at 7.09 UScents / kWh ranges from over 9 million USD to over 11.5 million / year; of Loc Ninh 2 will be in the range of 9 million USD to nearly 12 million USD / year; of Loc Ninh 3 is 6.5 million USD to 8.5 million USD / year and in Loc Ninh 4 is over 9 million USD to nearly 12 million USD / year. In total, these 4 projects, with the aforementioned fixed electricity price within 20 years, Super Energy will earn USD 678 million to USD 868 million.
The US $ 456.7 million investment from Super Energy in 4 projects is estimated to account for 26.23% of the Company's total assets.
Solar power is increasingly making an important contribution to Vietnamese electricity pool. In the first quarter of this year, hydroelectricity mobilized 8.93 billion kWh (down 30.4% compared to the same period in 2019), gas thermal electricity mobilized 9.46 billion kWh (down 15.9%), thermal power coal mobilized 33.91 billion kWh (up 21.3%), thermal oil mobilized 1.02 billion kWh (up nearly 1 billion kWh), renewable energy mobilized 2.76 billion kWh, of which solar power reached 2.31 billion kWh (an increase of 28 times compared to the same period in 2019).
With the race of solar power projects to catch up with commercial operation (COD) before January 1, 2021, the contribution rate of renewable energy will exceed 7% according to the Total electrical map VII and Adjusted total electrical map VII.
According to electricity experts, from now until December 31, 2020, there will be about 7 months, so those enterprises that have finished ground clearance, have an agreement to connect within a distance of less than 10 km will be promptly constructed to receive certificate of eligibility for commercial operation (COD) before 1/1/2021.
Meanwhile, Loc Ninh 1, 2, 3 and 4 power projects are in the construction stage with electricity purchase and connection contracts agreed. It is likely that all four Super Energy projects will be able to operate commercially on time in order to enjoy fixed electricity prices.