Malaysia’s energy solution provider Solarvest Holdings Berhad, via its wholly-owned subsidiary Solarvest (Vietnam) Co. Ltd., has installed 11 rooftop solar projects in Vietnam.
In a statement on Monday, the firm said it is collaborating with a local partner to deliver engineering, procurement, construction, and commissioning (EPCC) services for the projects, totaling 12.8 MW-peak (MWp).
Solarvest’s expansion into the Vietnamese market is part of its commitment to address the growing demand for sustainable energy. Currently, Solarvest holds a portfolio of tendering projects totaling 100 MWp in the country, demonstrating its dedication to the growth and development of clean energy initiatives in the region.
Per Vietnam’s promising clean energy market in line with the National Power Development Plan VIII (PDP VIII), Solarvest will explore wind energy options in Vietnam, said CEO Davis Chong Chun Shiong. The firm will also venture into innovative sustainable solutions, including battery energy storage systems (BESS), the executive added.
In its statement, the firm lauded Vietnam’s ambitions with the PDP VIII, including targets of installing 150 GW of renewable energy by 2030 and 500 GW by 2050.
Meanwhile, the Ministry of Industry and Trade has provided a mechanism to drive rooftop solar power towards installations for half of the country’s office and residential buildings by 2030.