HCMC – EDF Renewables, an international leader in renewable energy, has made a significant investment in SkyX Energy, the holding company of SkyX Solar, a rooftop solar power developer and a VinaCapital subsidiary.
Over the past few years, Vietnam has grown into a leading rooftop solar energy market in Southeast Asia, with a cumulative rooftop solar capacity of 9.3 gigawatts by 2020, according to BloombergNEF. With the partnership with EDF Renewables, SkyX Solar plans to invest US$100 million in the next two to three years to further develop 200MWp of rooftop solar power projects in Vietnam and distribute solar energy projects for commercial and industrial customers in Vietnam over the next few years.
Don Lam, co-founder and CEO of VinaCapital, said it had recognized the critical role that clean energy would play in powering Vietnam’s continued growth and development. VinaCapital looks forward to working with EDF Renewables to help SkyX Solar grow and explore other projects where there are synergies.
Samresh Kumar, CEO and founder of SkyX Solar, said SkyX Solar has some 100 MWp of rooftop solar projects under its operation and intends to partner with more industrial companies in Vietnam to develop hundreds of MWs of rooftop solar power.
EDF Renewables is one of the world’s leading renewable energy companies, so it can help SkyX Solar to further expand its scale and serve more customers in Vietnam, Kumar added.
According to Yalim Ozilhan, Southeast Asia Director of EDF Renewables, the potential for renewables in Vietnam is enormous, and EDF is keen to expand its footprint in the country drawing on its global knowhow in rooftop solar solutions.