Sunleap Group has signed a 20 year Power Purchase Agreement (PPAs) to supply clean energy to Vietnam, media reports said. Sunleap signed the agreement with Vietnam Electricity. It will generate the solar energy from seven newly commissioned solar plants in the country.
Frank Phuan, co-founder and chief executive officer of Sunseap Group told the media “It was no mean feat installing and commissioning seven solar plants in Vietnam within three months, and in the face of the pandemic-related travel restrictions and supply disruptions.
“We hope this demonstrates to our partners and potential partners Sunseap’s strong end-to- end project development and management competencies and our ability to complete a project within a tight deadline. The Vietnamese government has been incredibly supportive of clean energy and we look forward to more opportunities to power the country’s economic growth in a sustainable manner.”
Vietnam is set to double the use of renewable energy in the county by the end of this decade. The country is also planning to cut carbon emissions by 15 percent during the period by reducing the usage of coal. By the end of 2045, the country plans to cut emissions by 20 percent.
According to the Vietnamese government, renewable energy sources such as solar and wind will contribute 15 to 20 percent of the country’s total energy generation by the end of 2030. Currently, Vietnam produces around 10 percent of its energy from renewable sources.
It is reported that by doing so, Vietnam will be able to implement the 2015 Paris climate accord, in which it pledged to cut greenhouse gas emissions on its own by 8 percent, or 25 percent with foreign aid, by 2030.