Sembcorp Smart Energy Solutions Vietnam (Sembcorp), a newly incorporated wholly-owned subsidiary of Sembcorp Industries is pleased to announce it has signed a joint venture agreement with Becamex IDC Corporation (Becamex) and Vietnam Singapore Industrial Park J.V. Co (VSIP) to introduce a new generation of sustainable smart energy solutions to Vietnam.
The tripartite partnership will see a range of energy and utilities solutions such as renewable energy, waste-to-energy, wastewater treatment and water recycling brought to VSIP’s various integrated townships and industrial parks as well as other Becamex-owned industrial parks and facilities in Vietnam.
The first completed project under this collaboration is a 51 kilowatt-peak rooftop solar farm atop the 12,000-square foot VSIP administrative building in Binh Duong province. The solar panels installed will provide renewable energy and lower the carbon footprint for this building.
The installed solar energy system at VSIP’s administrative building is backed by a high-tech digital platform that is connected to Sembcorp’s Solar Performance Monitoring Centre housed in Singapore. The centralised platform remotely monitors in real-time the output of every single string of rooftop solar systems installed across Sembcorp’s solar projects in Singapore and in Southeast Asia. The platform provides enhanced visibility over Sembcorp’s renewables operations, and enables maintenance and troubleshooting teams to be swiftly deployed when needed – making the operations of solar assets more robust and reliable.
The rooftop solar project also marks Sembcorp’s entry into the renewable energy sector in Vietnam. Under the joint venture collaboration, Sembcorp has plans to develop rooftop solar facilities in other VSIP integrated townships and industrial parks as well as other Becamex-owned properties in the country.
Sembcorp is an established renewable energy player globally with over 2,600 megawatts of wind and solar projects across China, India and Singapore. The company has outlined ambitions to be the region’s leading independent renewable energy company and to double its global renewables portfolio to around 4,000 megawatts by 2022.
Koh Chiap Khiong, Head of Singapore, Southeast Asia & China (Energy), Sembcorp Industries, said, “We are pleased to be part of this partnership that is aimed at introducing smart energy and sustainable solutions to businesses in Vietnam. We believe these solutions will enable us to provide greater value-add to partners and customers of VSIP and Becamex by helping them to manage their carbon emissions and achieve cost savings at the same time.
“As an integrated energy and urban partner, Sembcorp’s green energy offering is line with the Vietnam government’s renewable energy goals and the company’s commitment to support a low-carbon and circular economy. It is also testament to our vision to be a leading independent renewable energy player.”
Nguyen Van Hung, Chairman of Becamex and Co-chairman of VSIP Group, said, “We want to ensure that VSIP and Becamex integrated developments continue to drive investments for the long term. Environmentally friendly features that enhance the sustainability of these projects will help to maximise their overall value to the economy and benefit the communities around us with cleaner environments. On that front, we are happy to collaborate with Sembcorp, to bring such sustainable energy solutions to Vietnam and our properties.”
The signing of this agreement is not expected to have a material impact on the earnings per share and net asset value of Sembcorp Industries for the financial year ending December 31, 2019.