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TTC energy unit signs EPC contract with JGC

Released at: 10:58, 07/03/2018

TTC energy unit signs EPC contract with JGC

Photo: TTC

Two sign contract for solar power plant in central highlands province of Gia Lai.

by Hong Nhung

Japan’s JGC Corporation has recently announced that its overseas affiliate JGC Vietnam has been awarded an engineering, procurement and construction (EPC) contract for the construction of a mega-solar power generation project in Krong Pa district in the central highlands province of Gia Lai by the Gia Lai Electricity JSC, a subsidiary of the TTC Group.

The lump sum turnkey contract covers the engineering, procurement, construction and commissioning (EPCC) work at the mega-solar power generation plant, with delivery this fall. The plant is to have a capacity of 49 MW, making it among the largest such facilities in the country.

TTC is a multi-industry corporation with nearly 40 years of operations and consists of four corporations, one segment, and over 150 subsidiaries and joint companies. It has investments in several industries, including real estate, energy, agriculture, education and hospitality.

The TTC Energy segment, with its main unit being the Gia Lai Electricity JSC, has invested heavily in clean energy resources and implemented pilot wind and solar power models in potential localities and also in hydro power projects.

TTC plans to achieve capacity of 1,000 MW of solar power and 40 MW of wind power, accounting for 73 per cent of TTC Energy segment’s total power capacity, and 222 MW of hydro power and 150 MW thermal power, accounting for 16 per cent and 11 per cent of its total power capacity, by 2020.

TTC previously planned to deploy 20 solar power projects in provinces including Tay Ninh (324 MW), Binh Thuan (300 MW), and Ninh Thuan (300 MW), with a maximum investment of up to VND20 billion ($878,000) per MW, an internal rate of return (IRR) of at least 15 per cent, and a payback period of less than 12 years.

Signing the EPC contract and cooperating with the JGC Corporation is a milestone for the TTC Energy segment and will leverage each other’s strengths for effective cooperation and development and increase the benefits to the community in the context of climate change.

It also provides the foundation for TTC Energy segment to complete its clean energy development roadmap and expand its scale of operations in line with international standards.

This is also a solution to help Vietnam’s energy industry be ready for new development opportunities and to cope with challenges in the future.

The Gia Lai Electricity JSC last month also signed an EPC contract with the Sharp - SSSA - NSN consortium to implement the Phong Dien Solar Power Plant in central Thua Thien Hue province.

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