KN Cam Lam Solar Power Corporation (the company implementing KN Cam Lam Solar Power Project) was established in April 2017 with an initial charter capital of VND 400 billion. The capital contributions were made by Long Thanh Golf Investment and Business JSC (Golf Long Thanh) and an individual.
In 2019, Hanwha Energy acquired a 70% stake in the project enterprise, while the remaining 30% was held by other shareholders. After the completion of the transfer deal, KN Cam Lam Solar Power Corporation has a charter capital of VND 222 billion.
Government inspectors have pointed out numerous shortcomings and violations in the implementation of KN Cam Lam Solar Power Project (Illustrative Image: KT)
In April 2023, KN Cam Lam Solar Power Corporation announced a change in the content of its business registration. The ownership ratio of Hanwha Energy Corporation Singapore Pte Ltd decreased from 70% to 19%, with 51% of the shares being transferred back to a member of Golf Long Thanh.
Government inspectors have identified various shortcomings and violations in the implementation of KN Cam Lam Solar Power Project, located in Cam An Bac commune, Cam Lam district, Khanh Hoa province, with a total capacity of 50MWp. The project was approved for addition to the Power Development Plan of Khanh Hoa province for the period of 2016 – 2025, taking into account up to 2035 (Decision No. 424/QD-BCT dated January 31, 2018).
According to the Government inspectors, during the assessment process by the Electricity and Renewable Energy Department, the opinions of Vietnam Electricity (EVN) were not fully taken into account in document No. 5237/EVN-KH dated November 7, 2017 regarding the additional documentation of KN Cam Lam Solar Power Plant project to the Power Development Plan of Khanh Hoa province.
EVN’s opinion stated: “There should be an overall solution in the planning of solar power sources in Khanh Hoa province to fit the demand and power grid infrastructure, avoiding excessive pressure on the investment in the transmission system and ensuring the overall efficiency of the society.”
The conclusion of the Government inspectors also revealed that Khanh Hoa provincial People’s Committee has not completed the handling of the state budget expenditure for the compensation for land clearance according to the previous Tà Rục Reservoir project with a total amount of VND 77.8 billion (according to the report of Cam Lam district People’s Committee).
In response to this issue, the Chairman of the provincial People’s Committee issued Announcement No. 592/TB-UBND dated December 26, 2022, making conclusions and directing the Department of Finance to coordinate with the relevant departments to handle compensation money, land clearance for the projects leasing land at the material yard serving the construction of Tà Rục Reservoir in accordance with the guidance of the Ministry of Finance and the regulations of the law. The responsibility for the above-mentioned shortcomings lies with the Khanh Hoa provincial People’s Committee and the related departments.
The Song Giang Solar Power Plant is located in Cam Thinh Tay and Cam Thinh Dong communes, Cam Ranh City (Khanh Hoa). The plant is built on an area of about 60ha with a total capacity of 50MW. The total investment capital of the plant is nearly VND 1,200 billion.
The conclusion of the Government inspectors stated that during the assessment process, the Electricity and Renewable Energy Department did not consider the participation opinions of EVN when submitting the Song Giang Solar Power Plant project, with a capacity of 40MWp, for addition to the Power Development Plan of Khanh Hoa province for the period of 2016-2025, taking into account up to 2035, and commencing operation in 2019. Responsibilities lie with the Ministry of Industry and Trade. The Electricity and Renewable Energy Department submitted to the Minister of Industry and Trade for approval the adjustment of the capacity of the Song Giang Solar Power Plant Project from 40MWp to 50MWp, but not conducting the assessment is not in compliance with the provisions at point e, clause 1, Article 25 of Circular No. 43/2013/TT-BCT.
The Trung Son 30MW Solar Power Plant is located in Cam An Bac commune (Cam Lam district) with a total investment amount of about VND 1,000 billion. The project investor of the Trung Son 30MW Solar Power Plant does not meet the financial capacity and the project documents do not comply with the provisions of the Investment Law 2014.
At the same time, the project investor does not have enough financial capacity to be leased land under the provisions of the Land Law 2013, but has been approved for investment by Khanh Hoa provincial People’s Committee. Responsibilities lie with Khanh Hoa provincial People’s Committee, the related departments.
