The Indochina Energy & Industry Company Limited (ICE) will start work on building a solar modules manufacturing plant at Chu Lai Open Economic Zone this month.
The $390 million plant’s key products will be thin-film solar modules with an annual production capacity of 120 megawatts. ICE’s solar modules will be tested and certified by global standard laboratories following stringent requirements applicable in the solar energy industry.
In the first phase, the plant will have an annual capacity of 30MW which will be tripled to 90MW. All the products will be exported to Hong Kong with an estimated export value of $60 million for 30MW annual capacity.
IC Energy is a subsidiary of IC Holding (Vietnam), having expanded to solar energy sector in 2009. By contribution to clean and renewable sources of energy, IC Energy is aiming to provide the sustainable alternative solutions to conventional energy sources.
IC Energy is racing to be the first manufacturer of solar modules in Vietnam.
Earlier, US-based First Solar Group also broke the ground to build its thin-film solar panel plant in HCM City at a cost of $300 million and estimated production capacity of over 250MW per annum. With a relatively high cost of around $100-$150/panel, most of the plant products will also be exported to Europe and America.