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  • News
  • News in Vietnam
  • 25 January 2022

The third-largest corporation in Korea invests in solar power in Vietnam

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A subsidiary of SK Group (Korea) has just established a $200 million joint venture to invest in distributed solar energy in Vietnam.

SK Eco plant – a member of SK group and Nami Solar – a member of Nami Energy, have just cooperated in establishing a joint venture to invest 250 MWp of rooftop solar power in Vietnam, with a total investment of 200 million USD.

Mr. Casey Jung, SK Ecoplant’s Vice President of Renewable Energy, said that Vietnam’s commitment to climate change prevention is impressive. “This partnership allows the two sides to synergize their strengths to accelerate further efforts to support Vietnam in achieving its carbon emission reduction goals and realizing the energy transition,” he said.

According to Mr. Luu Hoang Ha, Chairman of Nami Energy, the joint venture has advantages thanks to the resonance of the benefits of one party having financial and technical strengths and the other having a solid foundation in Vietnam.

Vietnam and the Republic of Korea promote action programs against climate change, recovery, and green growth. Vietnam is committed to being carbon neutral (Net Zero) by 2050.

After announcing the Net Zero roadmap in July 2021 to reduce carbon emissions by 50% within the next ten years and reach Net-Zero by 2050, SK was the first Korean corporation to propose the targets and specific emission reduction plan.

In December 2021, at an audience with Chairman of the National Assembly of Vietnam Vuong Dinh Hue in Seoul, SK Group Chairman Chey Tae-won affirmed the group’s medium-term investment priority in Vietnam in the field of renewable energy.

SK Group is the 3rd largest corporation in Korea, operating more than 120 businesses in the energy, life sciences, advanced materials, transportation, and semiconductor industries. Before establishing a joint venture with Nami, SK invested nearly 2 billion USD in two leading corporations in Vietnam, VinGroup and Masan Group.

As a member, SK Eco plant, established in 1977, is one of the leading Korean investors in energy development globally.

Meanwhile, Nami Solar is a member company of Nami Energy, established in 2019. Name Solar has cooperated with large domestic corporations such as Sonadezi Corporation, Viet Thang Corporation, and several Korean companies to invest in rooftop solar projects, providing clean energy for production and business activities of enterprises.

(Source: vnExpress)

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