In the step-by-step roadmap for limiting and eliminating power sources that use fossil fuel, especially coal-fired power, as well as for setting the Vietnamese government targets for developing renewable energy for replacement, solar farms and rooftop solar power, followed by floating photovoltaic (PV) power, are considered the best candidates for meeting the goals of land space, PV system operation efficiency, and meeting environmental goals. In addition to the rapid development of PV cell technology are the government’s incentives and financial support for PV plants on the water surface area, which is still very large. Floating PV plants will strongly attract investors in the near future. This study could help stakeholders in the market understand the economic–technical aspects from analyzing economic–financial indicators of floating PV plants with a capacity of 47.5 MW connected to the national utility grid 110 kV at Da Mi hydropower reservoir in Binh Thuan province, Vietnam, in May 2019. This is the first floating PV plant on the reservoir in Vietnam, and is the property of a third party.
Among the energy targets of the Vietnamese government, solar energy is expected to become the main source of renewable energy in the future. Solar energy is moving forward, with Vietnam outstripping Thailand and becoming the country that installed the largest capacity of solar power generation in Southeast Asia, reaching 16,362 MW in new installations in December 2021. In this study, we have experimentally analyzed and designed a capacity of 47.5 MW grid-connected photovoltaic plant mounted on the floatation system at Da Mi hydropower reservoir in Binh Thuan province. This was selected to be utilized as the first effort to develop the first large-capacity floating solar power plant on a hydroelectric reservoir in Vietnam. A detailed examination of the electrical analysis, including DC to DC converters, AC inverters to the transmission network, and PV module connectivity configurations, are in scope. The present research has the potential to make a contribution to the design of the DC electrical part, the AC electrical part, and the layout PV modules—Inverter—Floatation system—Floating bridge of FPV plants which are less described in the former articles. The performance of the plant after the first 2 years of operation has confirmed that it has met the expectations and exceeded the investor’s target, with the power output of the first 2 years being higher than the design by 102.58% to 105.59% and no serious damage has occurred to the equipment from 1 June 2019 to 31 August 2021.
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