Natcore Technology bags 200 MW Solar Project in Vietnam

US-based Natcore Technology has signed a Memorandum of Understanding with an unnamed European developer of international renewable energy projects and a Vietnamese consortium, under which the organization will be forming a separate company to develop a 200 MW solar energy project in Vietnam.

The cost of the project is expected to be around approximately US$300 million, which will also include the costs of engineering/procurement/construction (EPC), land acquisitions, development fees and other expenses.

The 200MW solar project will be executed in several phases, the first of which will be of 10 MW. Each phase will be located at a site agreed upon in selected provinces of Vietnam. By completing the project in tranches, the participating organization will be able to generate revenue before the entire project is completed. The project would also include a laboratory facility and, potentially, a solar panel manufacturing facility.

The Memorandum of Understanding states following terms for Natcore:

• Natcore will design, develop, implement and bring the solar plants to the turnkey phase
• Serve as supplier of the project
• Select suppliers, PV plants and engineering, procurement, construction  (EPC) company
• Serve as project manager.

Natcore will be compensated on a “cost-plus” basis and with licensing fees for its technology as it is provided.

Source: PR Newswire