Sembcorp Industries, Singapore’s energy and urban development major, is looking to expand its renewable energy presence in the fast-expanding Vietnamese economy in cooperation with state-run Petrovietnam.
In a Tuesday meeting with top Petrovietnam executives, Sembcorp CEO Wong Kim Yin said his firm was looking to cooperate with Petrovietnam in building wind and solar farms and optimizing capacities at operational renewable projects.
He thanked Petrovietnam for the support given to Sembcorp in accessing business opportunities in the Vietnamese energy ecosystem, notably the LNG-to-power Dung Quat 2 plant in the central province of Quang Ngai, which is part of the Blue Whale - Vietnam's biggest gas project.
Petrovietnam chairman Hoang Quoc Vuong said renewable energy opportunities with potential for cooperation include offshore wind and green hydrogen projects.
In March, Sembcorp Development, a Sembcorp subsidiary, and its Vietnamese urban development partner Becamex IDC broke ground for the Vietnam Singapore Industrial Park III in Binh Duong province bordering Ho Chi Minh City. The over 1,000-hectare industrial park will deploy smart technology solutions for energy and water supply, wastewater management, security and traffic management.
The park will have a 50-hectare onsite solar farm, which will offer grid reliability and sustainability benefits to large industrial tenants. One of its first customers for the planned solar farm is toymaker Lego.
At the groundbreaking ceremony, the Danish giant received an investment license for a 44 hectare production facility worth more than $1 billion. The Lego carbon-neutral factory will be powered by renewable energy from VSIP solar farms and solar panels established onsite.