Power Engineering Consulting Joint Stock Company 4: A Pioneer in Consulting and Investing Solar Energy Projects in the Central Highlands Region of Vietnam
Vietnam possesses significant potential in solar energy, with an average horizontal irradiation intensity of approximately 4.3 kWh/m2 and an average annual sunshine duration of about 2,000 hours, especially in provinces from Da Nang southwards. After the issuance of Decision No. 11/2017/QD-TTg by the Prime Minister of the Government on incentivizing the development of solar power projects in Vietnam, there has been a notable surge in investment in this sector, particularly in the coastal provinces of the Central Highlands and the Central Coast.
EVNPECC4 has been at the forefront of researching and developing large-scale solar power plant projects on land and water surfaces. The Company has completed supplementary planning reports for over 30 solar power plant projects, ranging from 20 to 200 MWp, in the provincial and national power development plans. The total installed capacity of these projects exceeds 1,500 MWp. Additionally, the Company has completed feasibility study reports (FS) for five projects with a total capacity of over 250 MWp. These projects include the Da Mi Solar Power Plant in Binh Thuan Province (47.5 MWp), the AMI Solar Power Plant in Khanh Hoa Province (50 MWp), the Phuoc Huu Solar Power Plant in Ninh Thuan Province (50 MWp), the JINKO Solar Power Plant in Khanh Hoa province (49 MWp), and the Ninh Phuoc 6 Solar Power Plant in Ninh Thuan province (56.5 MWp).
In addition to large-scale projects, EVNPECC4 has conducted research to develop the consultancy, investment, installation, and technology transfer of rooftop solar projects connecting to distribution grid.
On September 26th, 2017, the Company successfully connected a rooftop solar project at its headquarters with the following key specifications:
- Installed capacity: 34 kWp
- Power output per panel: 330 Wp
- Solar panel efficiency: >17%
- Inverter capacity: 30 kWp
- Synchronization, monitoring, protection, and real-time measurement devices
- Average daily energy production: 160 kWh per day
Solar Panels installed at the headquarters of EVNPECC4
Although this was a small-scale project, the project team researched optimal design, technology selection, and installation solutions to maximize investment efficiency. According to financial analysis based on the current electricity price of 9.35 US cents/kWh, the project's payback period is estimated at 5 years within its 25-year lifespan. However, considering the current business electricity price, the project is expected to yield even greater investment returns.
Anticipating the inevitable trend of renewable energy development in Vietnam, in recent years, EVNPECC4 has focused on researching various aspects of solar power projects, including solar panel technology, control systems, monitoring, measurement, protection, and DC/AC power conversion. The company has also studied frame structures for panel support on land, lakes, and flood-prone areas. Moreover, they have mainly researched optimal grid integration solutions to mitigate the impact of solar power projects on grid oscillations. The findings from these studies have been immediately applied to ongoing projects for partners and projects in which the company has invested. Projects undertaken by the company's consultancy services have successfully passed the technical review boards of Vietnam Electricity and the Ministry of Industry and Trade.