BCG Energy, a subsidiary of the Bamboo Capital Group (HoSE: BCG), is set to list its shares on the UpCoM stock exchange on July 31, under the ticker symbol BGE, with an opening price of VND 15,600 per share.
With a charter capital of VND 7,300 billion, owner’s equity of nearly VND 10,000 billion, and total assets of nearly VND 20,000 billion, BCG Energy is one of the top 3 renewable energy companies in Vietnam, with large-scale energy projects across the country.
BCG Long An 1 and BCG Long An 2
BCG Long An 1, with a total investment of VND 1,088 billion, was the first energy project developed by BCG Energy. Construction began in September 2018, and the plant was completed and connected to the national grid in June 2019. It is the first solar power plant in Long An province, located in Thanh An commune, Thanh Hoa district.
The BCG Long An 1 plant has a capacity of 40.6 MW and an annual electricity output of 57 million kWh, meeting the electricity demand of 22,000 households. The plant helps reduce CO2 emissions by an estimated 16,000 tons per year and enjoys a FIT rate of 9.35 cents/kWh for 20 years.
Following the success of BCG Long An 1, BCG Energy developed and operated BCG Long An 2 in 2019-2020. This plant has a capacity of 100.5 MW and a total investment of USD 96.1 million. It is also located in Thanh Hoa district and benefits from a FIT rate of 7.09 cents/kWh for 20 years.
BCG Vinh Long Solar Power Plant
The VNECO Vinh Long solar power plant, with a total capacity of 49.3 MW and an investment of VND 1,156 billion, was constructed by BCG Energy and commenced operation in November 2020. The plant produces approximately 70 million kWh of electricity annually, meeting the demand of 26,000 households and reducing CO2 emissions by 19,000 tons. Thanks to its completion before December 31, 2020, the plant also enjoys a FIT rate of 7.09 cents/kWh for 20 years.
Phu My Solar Power Plant
The Phu My solar power plant, with a total investment of nearly VND 7,000 billion and a capacity of 330 MW, is the largest solar power plant of BCG Energy and in the province of Binh Dinh. Constructed on an area of 323.5 hectares in My An and My Thang communes, Phu My district, the plant began operation in December 2020, with the first phase of 216 MW enjoying a FIT rate of 7.09 cents/kWh, while the remaining capacity is subject to a transitional electricity price.
The Phu My plant produces approximately 520 million kWh of electricity annually, meeting the demand of 200,000 households and reducing CO2 emissions by about 146,000 tons.
In addition to the four operational solar power plants mentioned above, BCG Energy has completed the first phase of the Krong Pa 2 solar power plant (21MW) in Gia Lai and is in the process of negotiating transitional electricity prices.
During the period of 2018-2020, BCG Energy rapidly developed four major renewable energy projects: BCG Long An 1, BCG Long An 2, BCG Vinh Long, and BCG Phu My. Along with this, the company also installed rooftop solar systems in export processing zones and industrial parks, bringing its total power generation capacity to approximately 600 MW. This solid foundation has established BCG Energy’s position in Vietnam’s renewable energy landscape, with its project development and operation capabilities highly regarded by international partners. The company has continuously received investments from reputable corporations such as Hanwha, SP Group, Sembcorp, and SK Group.
Rooftop Solar Projects
In addition to large-scale ground-mounted solar projects, BCG Energy has implemented and operated numerous rooftop solar systems in Ho Chi Minh City, Binh Duong, Tien Giang, Ben Tre, Lam Dong, Quang Ngai, Binh Dinh, and Nghe An, with a total capacity of 74 MW.
These rooftop solar systems are mostly installed in export processing zones, industrial parks, and manufacturing facilities. Notable clients include Linh Trung Industrial Park, Vinamilk, and The Gioi Di Dong.
There is still significant potential for growth in BCG Energy’s rooftop solar segment, as manufacturing enterprises increasingly adopt renewable energy to reduce production costs, “green” their products, and enhance their competitiveness in the global market. The company aims to reach a total installed capacity of 150 MW by the end of 2024 and further expand to 500 MW by 2025-2028.
Large-Scale Wind Power Projects in Ca Mau and Tra Vinh
According to the list of prioritized power source projects until 2030, BCG Energy has eight onshore and near-shore wind power projects with a total capacity of 925 MW across Vietnam. The company is expediting the development of the Khai Long 1 (100 MW) project in Ca Mau and the Dong Thanh 1 (80 MW) and Dong Thanh 2 (120 MW) projects in Tra Vinh.
The most prominent among these wind power projects is the Khai Long Wind Power Complex, with a total capacity of 300 MW and an investment of approximately VND 18,000 billion. The first phase of the project will construct 17 wind turbines with a total capacity of 100 MW, requiring an investment of over VND 6,300 billion. Bamboo Capital Group will invest an additional VND 11,700 billion in the second and third phases for the remaining 200 MW. Once fully operational, the complex is expected to produce approximately 760 million kWh of electricity annually, reducing CO2 emissions by about 500,000 tons per year.
Tam Sinh Nghia Waste-to-Energy Plant
On July 20, BCG Energy commenced the construction of the first phase of the Tam Sinh Nghia Waste-to-Energy Plant in Cu Chi, Ho Chi Minh City. The company aims to make this plant a symbol of the city’s efforts in waste management and a center for training and technology transfer in waste-to-energy for the entire country.
The first phase of the Tam Sinh Nghia plant, with a total investment of VND 6,400 billion, will have a waste incineration capacity of 2,000-2,600 tons per day and a power generation capacity of 60 MW. It is expected to produce 365 million kWh of electricity annually, meeting the demand of 100,000 households and reducing CO2 emissions by about 257,000 tons per year.
The second phase, to be implemented from 2026 to 2027, will increase the waste incineration capacity to 6,000 tons per day and the power generation capacity to 130 MW, making it the largest waste-to-energy plant in the world. The third phase, planned for 2027 to 2029, will further expand the waste incineration capacity to 8,600 tons per day and the power generation capacity to 200 MW.
The operation of the Tam Sinh Nghia plant will help Ho Chi Minh City address 20-25% of its daily municipal solid waste. The waste treatment rate is expected to increase to 60-80% with the completion of the second and third phases.
According to the recently published Power Development Plan 8, BCG Energy has eight prioritized onshore and near-shore wind power projects with a total capacity of nearly 1 GW until 2030. The Dong Thanh 1, Dong Thanh 2, and Khai Long 1 projects, with a total capacity of 300 MW, are being fast-tracked by BCG Energy and are expected to be operational by next year, increasing the company’s total power generation capacity by approximately 53%. In addition to the Tam Sinh Nghia plant in Ho Chi Minh City, BCG Energy also plans to develop waste-to-energy plants in Long An, Kien Giang, and other provinces.
The implementation of Power Development Plan 8 and the direct power purchase mechanism has resolved many bottlenecks in the development of renewable energy projects, opening up opportunities for capable and experienced companies like BCG Energy.
