The Vietnam-Oman Investment Fund (VOI) has backed the construction of a solar power project in the Vietnamese province of Long An, said a report.

The $46-million project was formally inaugurated recently, said the the Oman Daily Observer report.

VOI was founded as a joint venture between the State General Reserve Fund of Oman and the State Capital Investment Corporation of Vietnam in 2009, with an initial commitment of $100 million.

The BCG-CME Long An 1 solar plant construction covers an area of around 50 hectares and features an installed capacity of 40.6 MWp, added the report.

The project is a joint venture between Vietnamese firms Bamboo Capital Group (BCG) and Copper Mountain Energy (CME), and the Vietnam-Oman Investment Fund (VOI), it said.

Work on the project began in September 2018 with the installation of as many as 123,000 solar panels at the site, added the report.