Pacifico Energy plans solar power investment at industrial parks in southern Vietnam

American firm Pacifico Energy aims to make solar power investments within industrial parks of Binh Duong province, an industrial hub in southern Vietnam.

William Nathan Franklin, chairman and CEO of Pacifico Energy, made the statement at a Thursday meeting with Binh Duong Vice Chairman Mai Hung Dung. The executive urged provincial authorities to share the province’s master plan for 2021-2030, especially renewable energy.

Backing up the proposal, Dung asked relevant agencies to collaborate with Pacifico Energy to help with project deployment. As of end-August, Binh Duong had 4,007 rooftop solar power systems with a total capacity of 770.1 MWp, Dung added.

Binh Duong province strives to become a centrally-run city in 2030, playing a leading role in Vietnam in science-technology, innovation, sustainable growth, climate change adaptation, and livelihoods, Dung added.

Pacifico Energy, headquartered in the United States, is a major renewable energy investor in Asia. Since 2012, the firm has mobilized over $4.6 billion for renewable projects, including solar power, wind power, offshore wind power, and battery energy storage systems (BESS), with a total pipeline of 8.5 GW worldwide.

In Vietnam, Pacifico Energy is currently the largest renewable energy investor from the United States, with the 40 MW Mui Ne solar power project in Binh Thuan province and the 30 MW Sunpro wind power project in Ben Tre province.

In the future, Pacifico Energy plans to invest $15-20 billion globally in renewable energy.

Registered foreign direct investment (FDI) in Vietnam totaled $24.78 billion in the first nine months of this year, up 11.6% year-on-year, according to the Ministry of Planning and Investment.

Binh Duong ranked fifth among all cities and provinces in Vietnam with $1.65 billion, up 24.7% year-on-year.