HO CHI MINH CITY: Vietnam’s TTC Group, a sugar, energy, real estate and tourism conglomerate, is planning to spend as much as US$1bil on an ambitious plan to build one of the country’s largest portfolios of solar projects in an effort to capitalise on the nation’s growing power needs.
“Solar energy is very hot right now as the recent pricing set by the government is reasonable, development costs are much cheaper and coal-fired power plants have caused so many concerns,” chief executive officer Thai Van Chuyen said in an interview at the company’s headquarters. “Vietnam always needs more power every year for its expanding economy.”
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