Page 12 - AsiaElec Week 21 2021

AsiaElec RENEWABLES AsiaElec

Singapore’s SP Group to invest in

renewables in Vietnam

VIETNAM SINGAPORE’S SP Group and Vietnam’s BCG assets in Vietnam.
Energy have signed a memorandum of under- As part of its aim to achieve 2 GW of capacity
standing (MoU) to invest in renewable energy by 2023, the company intends to diversify into
projects in Vietnam. floating solar, wind power and LNG projects in
The MoU provides an exclusive right for SP to the future.
acquire up to 49% of Skylar Joint Stock Company BCG Energy chief executive officer Tuan
(Skylar), a subsidiary of BCG Energy. Pham said: “Our vision is to become one of the
Skylar specialises in the development and market leaders in renewable energy in Vietnam
deployment of solar assets on factories and and Asia. We aim to develop 1.5 GW by 2023 of
industrial zones across Vietnam. solar farms and wind farms and an additional
It currently has 61.1 MW of rooftop solar 500 MW rooftop solar on industrial zone and
assets in operations across 14 provinces in Viet- manufacturing facilities across Vietnam over
nam, according to the press statement from SP the next few years”.
and BCG Energy. SP, Singapore’s national utility, owns and
Under the partnership, SP and BCG Energy operates electricity and gas businesses in Singa-
will also “jointly explore opportunities to invest pore and Australia, as well as sustainable energy
in other solar power projects” to enhance Viet- solutions in Singapore and China. SP estab-
nam’s electricity supply capacity, and support lished its Vietnam office in Ho Chi Minh City
Vietnam’s goal of increasing the rate of electric- last November.
ity produced from renewable energy sources to “Vietnam is a key strategic market for SP and
about 30% by 2030. this collaboration with BCG Energy will create
BCG Energy is a wholly owned subsidiary of a strong platform for us to invest in renewables
Bamboo Capital JSC, which is listed on the Ho projects by leveraging the strengths of both par-
Chi Minh Stock Exchange. ties,” said Stanley Huang, SP’s group chief execu-
BCG Energy focuses on the development and tive officer, at the signing of the MoU. ™
operation of ground-mounted and rooftop solar

P12 www. NEWSBASE .com Week 21 26•May•2021