Singapore's SP Group and CJ ONS, a subsidiary of South Korea's CJ OliveNetworks in Vietnam, on March 28 signed a memorandum of understanding to jointly invest, build, and develop up to 50MWp of rooftop solar projects across Vietnam over the next two years.
Through this partnership, SP and CJ ONS will combine their expertise, experience and resources in sustainable energy solutions to explore solar projects for CJ ONS’ affiliates and other commercial and industrial customers in Vietnam. CJ ONS will take on the engineering, procurement, and construction (EPC) functions for all joint solar projects with SP.
The partnership supports Vietnam’s green ambitions to achieve carbon emission neutrality by 2050, and target to double the country’s existing wind and solar power generation capacity by 2030.
Brandon Chia, Managing Director, Southeast Asia & Australia, SP Group, said that this partnership is a significant milestone that will enhance market access to their range of renewable energy solutions and accelerate the decarbonisation of the industrial and manufacturing sector in Vietnam.
"Our goal is to enable the sustainable transformation of our local customers by increasing the share of renewables in both energy production and consumption for their facilities. Together with our digital and sustainable energy solutions expertise, we aim to continue growing our sustainability footprint in Vietnam and to empower the country’s green energy transition for a carbon-neutral future,” said Brandon Chia.
The partnership has secured its first project to install and operate 2.5 Megawatt-peak (MWp) of rooftop solar for a CJ Vina Agri manufacturing plant by June 2022.
CJ Vina Agri, a subsidiary of South Korea's CJ Group, specialises in the production of high-quality livestock, poultry, and aquaculture feed. The deployment of 2.5MWp of rooftop solar solutions for CJ Vina Agri’s manufacturing plant marks the company’s first large-scale injection of solar power into its energy mix.
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. It will effectively provide 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.