NINGBO, China, July 17, 2020 /PRNewswire/ -- Risen Energy Co., Ltd. (SZSE:300118) recently announced that the company will provide EPC services for Xinghai Group's 4/5 project (totaling 250 MW) in Loc Ninh, Vietnam, and is expected to complete shipment this December. The facility, one of the largest privately-funded EPC projects worldwide, will help the company further improve its competitiveness in the Vietnamese market once it has been successfully connected to the grid.
With direct sunlight generally available between 2,000 and 2,500 hours per year, Vietnam is among the countries in Southeast Asia best placed to take advantage of solar energy. However, the country's hot and humid environment raises the criteria for the stable operation of components. To ensure success, Risen Energy will provide high-efficient Jaeger components for the project, which are more resistant to LID and LeTID. In addition, the components are expected to lower LCOE and increase revenue from the facility's power generation.
As one of the first PV companies entering the Vietnamese market, Risen Energy quickly implemented a strategy focusing on resource localization, recruiting local talents, and establishing local branches. The approach went a long way in helping the firm garner a number of project orders. The company has expanded its presence globally, with completed projects in Europe, Asia, North America, South America and Australia. Most notable are the excellent results in markets benefiting from the Chinese government's Belt and Road Initiative, including Nepal, Bangladesh, Kazakhstan and Malaysia.
Commenting on the cooperation, Risen Energy said, "We are very delighted to partner with Xinghai Group on this project. The collaboration will not only further consolidate the company's market position in Vietnam, but also drive development of the clean energy sector in Vietnam and Southeast Asia. We will continue to make full use of our advantages to meet the diversified needs of customers worldwide and provide them with higher-quality PV products and services."
