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Joint venture company, SOL Energy starts Vietnam rooftop solar generation business

Business Scheme of SOL Energy (Graphic: Business Wire)

KUALA LUMPUR, Oct 22 -- Sojitz Osaka Gas Energy Company Ltd (SOGEC), a joint venture company between Sojitz Corporation (Sojitz) and Osaka Gas Co Ltd (Osaka Gas), has partnered with Looop Inc (Looop) to establish a new joint venture company SOL Energy Company Limited (SOL Energy) as of Oct 21.

Moving forward, SOL Energy will begin operations of a rooftop solar power generation business geared towards industrial and commercial customers in Vietnam, according to a statement.

SOL Energy’s solar power business will utilise financial support from the Ministry of the Environment of Japan’s Financing Programme for JCM Model Projects in FY2021, and this project will be conducted in cooperation with the Vietnamese and Japanese governments.

SOL Energy plans to install rooftop solar panels that can provide over 10MW of solar power to customers at the Sojitz-operated Long Duc Industrial Park in southern Vietnam’s Dong Nai Province.

Installation of solar panels is expected to reduce CO₂ emissions for Long Duc Industrial Park as a whole by approximately 5,800 tonnes annually.

In addition to supplying customers with solar power over the long term, SOL Energy will use the surplus electricity to supply the industrial park’s operating companies.

In doing so, SOL Energy will contribute to utilisation of renewable energy and decarbonisation at the Long Duc Industrial Park. The company also plans to expand its solar business beyond Long Duc Industrial Park.

Sojitz, Daigas Group (an Osaka Gas group brand), SOGEC, and Looop will actively promote the spread of renewable energy through SOL Energy’s rooftop solar power generation business, thereby contributing to Vietnam’s sustainable development and the realisation of a low-carbon society.

-- BERNAMA

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