HCM City (VNS/VNA) - Instead of spending tens ofbillions of dong to install solar power systems, several enterprises arerenting solar power system to save operating costs, reduce electricity billsand promote clean energy development.

The Saigon Union of Trading Co-operatives (Saigon Co.op) isone of the pioneering units piloting the rental of roof solar power systems forits shopping centres and affiliated supermarkets.

Sense City outlets in Ben Tre province and Can Tho City, andCo.opmart Huynh Tan Phat supermarket in Ho Chi Minh City’s District 7, haveinstalled solar panels on their rooftops.

Diep Dung, Saigon Co.op chairman, told Nguoi Lao Dong (TheLabourer) newspaper that Saigon Co.op supported the use of renewable energy.

“Solar panel suppliers install rooftop solar panels andcommit to sell solar power to Saigon Co.op at a cheaper price than the currentelectricity price,” he said.

The average retail price for power has been raised by 8.36percent from 1,720 VND (7.49 US cents) per kWh to 1,864 VND (8.03 US cents),excluding value added tax.

After the trial period, the two sides will sign a contract ifthe system has good results, Dũng said.

According to the agreements, the provider will dismantle thepanels to return the empty roof to Saigon Co.op after the contract expires.

In addition to the Government's policies encouraginginvestment in solar power, many banks are providing more loans for green energyprojects, including Vietcombank, HDBank, VietinBank Agribank and VietnamDevelopment Bank.

Since the beginning of the year, the number of individualsand businesses investing in solar power has increased significantly.

Kizuna JV Corporation has three rental service factories inLong An province’s Can Giuoc district.

The company has invested 60 billion VND (2.6 million USD) toinstall a rooftop solar power system with a capacity of 3MW on 8ha of roofs atits Kizuna 2 factory.

About 80 percent of the investment costs are borrowed fromVietcombank’s lending programme for business investment in renewable energyprojects, with a preferential interest rate for eight years.

“The time is ripe to invest in solar power. Its operation isadvanced and the price of solar panels is quite reasonable,” chairman of theKizuna JV Corporation’s board of directors, Doan Hong Dung, said.

The Government has a policy to support and buy solarelectricity at higher prices, about 9.25 US cents per KWh, he said.

“We will consider investment in solar power panels at theremaining two factories or work with solar power solution providers to leasethe factories’ roofs,” he said

Demand for solar power has increased sharply, so many powercompanies are renting the rooftops of citizens or leasing solar power systems.

For example, TTC Green Energy Investment Joint Stock Company(TTC Energy) is negotiating with several partners to lease 18 MW of rooftopsolar power systems.

The company targets leasing 45 MW this year, much higher thanthe rate of 12 MW in previous years.

VNG Corporation and enterprises at Tan Thuan EPZ and somesupermarkets in HCM City are among the company’s first customers leasing solarpower systems.

Pham Trong Quy Chau, director of the TTC Energy, said thecompany will sell the electricity generated from solar panels to the tenant ata price at least 10 percent less than the national retail electricity price.

Depending on purposes of trading or production, the leasingcontract period may last for six to seven years or longer. After the contractexpires, the lessor will hand over the entire system to the tenant to continueto use the system, he said.

The useful life of solar panels is 20 to 25 years.

The solar power rental service is used by businesses only.There are still legal barriers for use by households.

“Our service is in the process of developing. Renting theroofs of enterprises will become more common in the near future," Chau said.

Some members of multinationals have suggested that thecompany lease their roofs, he said.  — VNS/VNA