Authorities in Vietnam’s Dak Lak province have approved a $355 million floating solar project with a planned capacity of 452 MW on the Ea Sup Thuong reservoir.

The Dak Lak Provincial People’s Committee approved the investment under Decision No. 3526/QĐ-UBND, issued on Oct. 31. The project is scheduled for completion by the end of 2028 and would rank among the world’s larger inland floating PV installations.

The facility will feature a floating 35 kV electrical collection network and a 35/220 kV substation equipped with two 250 MVA transformers. A 6 km, double-circuit 220 kV transmission line will connect the plant to the Krong Buk substation, where two additional 220 kV connection bays will be installed.

The project will also include a battery energy storage system, although its capacity has not been disclosed. The developers will contribute 20% of the total investment through equity, with the remaining 80% to be raised from other sources.

A consortium comprising IPC Engineering and Construction, Tay Nguyen Infrastructure Construction and Development, SD Vietnam Construction Investment, and Ea Sup Investment will develop the project, according to local media outlet Tuoi Tre News. It will occupy approximately 527 hectares, including 524 hectares of reservoir surface.

Vietnam commissioned its first large-scale floating solar project in May 2019, when Da Nhim–Ham Thuan–Da Mi Hydropower Joint Stock Company (DHD), a subsidiary of state-owned utility Electricity of Vietnam (EVN), connected a 47.5 MW installation to the grid at the Da Mi hydropower reservoir in Binh Thuan province. The VND 1.5 trillion ($64 million) project covers approximately 50 hectares.

In late 2020, two 35 MW floating solar plants were connected to the grid at the Gia Hoet 1 and Tam Bo irrigation reservoirs in Chau Duc district. Chinese module manufacturer Longi supplied the panels for both installations.

Vietnam has also introduced differentiated feed-in tariffs for floating solar projects. In April 2025, the Ministry of Industry and Trade published tariffs ranging from VND 1,228.2 ($0.047)/kWh to VND 1,685.8/kWh for floating PV without storage, depending on the region.