The proposed farm would be constructed by Singaporean based SHS Holdings on agricultural land in Ninh Thuan Province, Vietnam.
This proposed investment is subject to a detailed feasibility study to be conducted; the subsequent issue of an investment licence from the Ministry of Planning and Investment of Vietnam, and the passage of certain legislation by the Vietnam government.
The specific solar power policy and legislation is anticipated to be ratified by the Vietnam Government later this year, before the parties move ahead to sign a formal implementation agreement.
“We have completed extensive research into the opportunities and technical parameters surrounding the potential of harnessing solar energy in Vietnam, and believe that Ninh Thuan is the most suitable and ideal location for such a project,” said Mr Henry Ng, CEO of SHS Holdings.
The Group, he said, is accelerating its track record in solar energy, which is one of its key growth engines. In 2016, it completed a 4MW grid-tiered solar photovoltaic system on the rooftop of SATS Airfreight Terminals 5 and 6 at Singapore Changi Airport.
It is also currently constructing a 50MW solar plant in Bangladesh that is expected to complete by the second quarter of 2018.