Pacifico Energy, an Asia-based developer of renewable energy, has commenced operations of the 40 MWp Mui Ne Solar Power Plant in Phan Thiet City in Binh Thuan province of Vietnam. Construction of the plant began in October 2018. The solar power plant is spread over an area of 38 hectares and will generate 68 million kWh of electricity annually. State-owned power company Vietnam Electricity will purchase the entire output at a price of $0.0935 per kWh for a period of 20 years. It will help in reducing carbon emissions by 55,447 tonnes per year. The EPC contract was awarded to TTCL Vietnam Corporation, while Oriental Commercial Joint Stock Bank provided the long-term non-recourse project financing.