Illustrative photo (Source: VNA)Hanoi (VNA) – The People’s Committee in the southcentral coastal province of Ninh Thuan has approved the building of the 35-MWp NhonHai Solar Farm.
The plant, which has been invested in by Licogi 16 JSC at anestimated cost of 854 billion VND (36.7 million USD), will span 42 ha. Itsconstruction is scheduled to begin in July this year and be completed within 24months.
As planned, the solar farm will be fully operational inJanuary 2021.
Recently, the Government issued Resolution No.115/NQ-CPdated August 31, 2018 on special mechanisms and policies to facilitate NinhThuan’s socio-economic development for the 2018-2023 period. Accordingly, theGovernment approved a plan to turn the province into one of the nationalrenewable energy hubs.
Ninh Thuan is hoping to attract wind and solar power projectswith total respective capacities of 1,429 MW and 3,912 MW by 2030. To realise thisgoal, the province is promoting investment attraction and creating the bestpossible conditions for investors.
In particular, investors operating in the local renewableenergy sector will be exempted from land rent during the implementation oftheir projects and benefit from corporate income tax rate of 10 percent. Thecorporate income tax will be exempted in four years and cut by half in the ninefollowing years. Additionally, their projects will also be exempted fromtariffs on imported goods.–VNA
VNA
