Risen Energy wins contract for 50MW PV project from Bitexco Group's subsidiary

NINGBO, China, Oct. 23, 2018 /PRNewswire/ -- Risen Energy recently announced that it has won the bid for the NHI HA 50MW solar power station project owned by Vietnam-based Bitexco Group's subsidiary Thap Cham Solar. Combined with the contracts won by the China-based PV module manufacturer for a 61 MW facility in Ninh Thuan and installations completed in conjunction with Shapoorji Pallonji Group's 50 MW engineering, procurement, and construction (EPC) project in the same province since August 2018, the total installation capacity of its projects in Vietnam has reached 161 MW.

Bitexco Group is one of the top ten shopping mall and hotel developers in Vietnam as well as a provider of hydraulic engineering as well as road and highway engineering services. With the support of the team responsible for bidding on projects in the overseas markets, and the development, design, engineering and procurement departments, Risen Energy successfully won the 50MW contract from Bitexco Group after demonstrating its comprehensive capabilities in delivering leading technologies and experience when providing EPC services. The latest deal and the other power station contracts the company has recently won in Vietnam will help Risen Energy continue to achieve top line and bottom line growth.

The 50 MW facility covered by this latest contract is located in Ninh Thuan, Vietnam. Risen Energy will provide high-efficiency modules and 5-busbar 1500V high voltage modules for the facility in its role as the assigned EPC contractor.

After completing the pull-out test, construction was started on the facility on October 1. Once completed, the power station is expected to generate an average annual power of 81,429 MWh. The electricity generated by the project will be provided to EVN, the Vietnamese state grid.

Since 2017 when the Vietnamese government announced the feed-in-tariff policy for the solar photovoltaic (PV) market, the country has emerged as an investment destination of choice in Southeast Asia for global investors, developers and module manufacturers. While continuing to expand globally, Risen Energy selected Vietnam as a key market associated with its 2018 global expansion strategy. A spokesman for Risen Energy said, "With years of experience in delivering EPC services and a local strategy for the Vietnamese market determined by the region's specific needs, we believe the PV market in Southeast Asia boasts huge potential and great opportunities."

SOURCE Risen Energy Co., Ltd