Norsk Solar inks PPA for 1.8 MW of rooftop solar projects in Vietnam

• Norwegian firm Norsk Solar AS (FRA:62 L) has actually signed a power purchase agreement (PPA) with warehousing and logistics administration firm Lineage Logistics tied to the building and construction of 1.8 MW of rooftop solar capacity in Vietnam.

A total amount of 3 photovoltaic (PV) systems will be developed atop Lineage Logistics' refrigerated storage space centers in Song Than, Ho Chi Minh City and Bac Ninh.

Norsk Solar anticipates that the solar plants will can balancing out carbon dioxide (CO2) exhausts equal to more than 19,650 tonnes throughout their life times.

"This agreement is an advance towards becoming a favored independent producer of renewable energy to the industrial market in Vietnam, and demonstrates that the corporate PPA is an eye-catching option for corporate power purchasers," Norsk Solar's CEO, Oyvind L Vesterdal, stated.

At present, the solar firm, which concentrates on the Vietnamese, Brazilian and South African commercial as well as industrial (C&I) sectors, has 70 MW in operation and also 39 MW incomplete worldwide. Its portfolio in Vietnam includes greater than 13 MW of solar power.

The PPA was authorized by Norsk Solar Vietnam, a subsidiary of Nordic Impact Cooperation, the joint financial investment platform between Norsk Solar, the Norwegian federal government's mutual fund Norfund and also the Finnish state's majority-owned impact investor Finnfund.