Vietnam

With the transition to renewable energy and a drive towards energy efficiency in Vietnam, SP Group is building on these developments to export and acquire expertise and assets in Vietnam. We set up an office in Ho Chi Minh City in 2020 to pursue sustainable energy solutions projects.​

SP Group and BCG Energy Joint Stock Company (BCG Energy) formalised a joint venture (JV) to invest in rooftop solar and explore other renewable energy projects in Vietnam. This partnership is SP’s first JV platform in Vietnam and combines the expertise of both SP and BCG Energy to develop innovative, sustainable energy solutions, aimed at accelerating Vietnam’s clean energy transformation.

The JV also announced its first rooftop solar project with Vinamilk - Vietnam’s largest dairy production company. Under the agreement the JV will partner Vinamilk to install a combined 25 MW of rooftop solar across nine factories and seven farms. This enables Vinamilk to generate 35,000 MWh (Megawatt-hour) of clean electricity annually (enough to power 20,000 four-room apartments per year in Vietnam).

The JV will also make an initial acquisition of 28 MW of operational rooftop solar assets across eight commercial and industrial sites located in South and Central Vietnam.

SP Group and CJ OliveNetworks Vina Co. have formed a partnership to boost Vietnam’s clean energy transformation through the development of rooftop solar projects. Both companies will combine their expertise, experience and resources in sustainable energy solutions to jointly invest, build and develop up to 50 Megawatt-peak (MWp) of rooftop solar projects across Vietnam over the next two years.

The partnership already secured its first project to install and operate 2.5MWp of rooftop solar for a CJ Vina Agri Co Ltd (CJ Agri) manufacturing plant. The rooftop solar solution is expected to be operational by June 2022 and can deliver up to 3,577 Megawatt-hour (MWh) of electricity annually. This effectively provides 20 per cent of electricity consumed by the facility at peak load and will avoid carbon emissions of more than 3,500 tons annually, equivalent to taking approximately 1,100 cars off the road.

SP Group is partnering South Korean smart grid developer and system integrator NuriFlex to develop and install up to 20 Megawatt-Peak (MWp) of rooftop solar power at three mega factories for TKG Taekwang Vina – a manufacturing leader in Vietnam. The 20MWp rooftop solar power, which is set to be operational by October 2022, is expected to deliver up to 28,000 Megawatt-hour (MWh) of electricity annually, providing more than 10 per cent of electricity for the three factories and offsetting more than 22,000 tons of carbon emission annually. This project is TKG Taekwang Vina’s first large-scale injection of solar power into its energy mix. In addition, TKG Taekwang Vina will receive all the Renewable Energy Credits such as GHG emission credits generated by the 20MWp rooftop solar system.