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Monday, June 17, 2024

Singapore’s SP Group steps up investment in Vietnam

By Dung Nguyen

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HCMC – SP Group, Singapore’s energy supplier, has teamed up with NuriFlex, a South Korean rooftop solar maintenance and operation service provider, to install a rooftop solar power system with a capacity of 20 megawatt-peak in Vietnam.

The two firms signed a power purchase agreement with TKG Taekwang Vina to provide energy for the latter’s three major plants, which are operating 56 production lines with 65,000 employees.

The rooftop solar power project will be put into use in October and generate annual output of over 28,000 MWh, meeting more than 10% of power demand for the three facilities and reducing 22,000 tons of carbon emissions each year.

With the agreement, TKG will get multiple certificates for renewable energy.

The project will mark SP Group’s investment in the renewable energy field in Vietnam and a key milestone for its commitment to the country’s energy development.

During a recent visit to Vietnam, Stanley Huang, chief executive officer of SP Group, said the group pledged to inject some US$550 million into sustainable energy projects in Vietnam from now until 2025 to double the wind and solar energy capacity in the country in 2030.

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