Sembcorp seeks Petrovietnam partnership in renewables

By Thuy Nguyen
Thu, July 21, 2022 | 9:30 am GMT+7

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.

Sembcorp is the Singaporean partner in the VSIP joint venture, which develops industrial parks in Vietnam. Photo courtesy of the company.

Sembcorp is the Singaporean partner in the VSIP joint venture, which develops industrial parks in Vietnam. Photo courtesy of the company.

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.

Comments (0)
  • Read More
Vietnam becomes Australia’s fastest-growing inbound market

Vietnam becomes Australia’s fastest-growing inbound market

The number of Vietnamese tourists to Australia has grown significantly after the Covid-19 pandemic, with nearly 178,000 reported in the 12 months to August 2024, according to a Friday press release by the Australian Minister for Trade and Tourism’s Office.

Southeast Asia - Fri, November 1, 2024 | 10:02 pm GMT+7

Study finds shift in Thai consumers’ spending patterns

Study finds shift in Thai consumers’ spending patterns

Consumers in Thailand are shifting their spending focus to experiences and investments, according to the latest ASEAN Consumer Sentiment Study (ACSS) by United Overseas Bank (UOB).

Southeast Asia - Fri, November 1, 2024 | 10:00 pm GMT+7

Energy security, digitalization key to Indonesia's economic growth

Energy security, digitalization key to Indonesia's economic growth

The Indonesian government is prioritizing long-term economic growth through energy security, digitalization, and natural resource industrialization, according to Deputy Minister of Finance Thomas Djiwandono.

Southeast Asia - Fri, November 1, 2024 | 9:58 pm GMT+7

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Prime Minister Pham Minh Chinh’s freshly ended six-day trip to the UAE, Saudi Arabia and Qatar has produced important outcomes, demonstrating the growing relations between Vietnam and the three Middle-East countries, Deputy Prime Minister and Foreign Minister Bui Thanh Son told the Vietnam News Agency.

Politics - Fri, November 1, 2024 | 9:25 pm GMT+7

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam and Qatar have recognized the significant potential for further collaboration in multiple sectors such as energy, oil and gas, especially LNG, agriculture, Halal industry, and banking.

Politics - Fri, November 1, 2024 | 9:02 pm GMT+7

Thailand bans export of raw palm oil until December

Thailand bans export of raw palm oil until December

Thailand's Department of Internal Trade has temporarily banned the export of raw palm oil due to reduced production caused by drought and plant diseases.

Southeast Asia - Fri, November 1, 2024 | 8:31 pm GMT+7

Envision Energy to build $420 mln wind power plant in Vietnam from June 2025

Envision Energy to build $420 mln wind power plant in Vietnam from June 2025

Envision Energy Singapore Pte Ltd, under China-based Envision Energy, aims to kick off construction of the 300-MW Envision Nam Po wind power plant in Vietnam’s northern mountainous province of Dien Bien in June 2025.

Energy - Fri, November 1, 2024 | 8:30 pm GMT+7

Indonesia to ban plastic waste imports from 2025

Indonesia to ban plastic waste imports from 2025

The Indonesian government will start imposing a ban on the import of plastic waste from the beginning of next year, according to Minister of Environment Hanif Faisol Nurrofiq.

Southeast Asia - Fri, November 1, 2024 | 8:29 pm GMT+7

Islamic economy makes up 48% of Indonesia’s GDP

Islamic economy makes up 48% of Indonesia’s GDP

The contribution of Islamic business activities to Indonesia’s GDP has been estimated at 48%, local authorities reported at the 11th Indonesia Sharia Economic Festival (ISEF).

Southeast Asia - Fri, November 1, 2024 | 8:28 pm GMT+7

Restructured construction giant Tracodi gets set to execute ambitious plans

Restructured construction giant Tracodi gets set to execute ambitious plans

After changing its name and restructuring as a group, Tracodi Construction Holdings JSC (HoSE: TCD), a member of Bamboo Capital Group (HoSE: BCG), has completed a leadership shake-up and is poised to achieve rapid growth.

Bamboo Capital - Fri, November 1, 2024 | 4:43 pm GMT+7

Philippines requests companies to pay for plastic waste treatment

Philippines requests companies to pay for plastic waste treatment

The Philippines expects its "Extended Producer Responsibility" (EPR) that came into force last year will help it curb plastic waste

Southeast Asia - Fri, November 1, 2024 | 4:30 pm GMT+7

Indonesia warns of rising online terrorism

Indonesia warns of rising online terrorism

Indonesia's National Counter-Terrorism Agency (BNPT) has warned of a shift in terrorism tactics, moving from public attacks to online platforms that target vulnerable groups, particularly women and children.

Southeast Asia - Fri, November 1, 2024 | 4:29 pm GMT+7

Singapore establishes global fintech network

Singapore establishes global fintech network

The Monetary Authority of Singapore (MAS) on Wednesday announced that it has established a “Global Finance & Technology Network” (GFTN) to propel Singapore’s reputation as a premier global fintech hub into its next phase and enhance global connectivity.

Southeast Asia - Fri, November 1, 2024 | 4:28 pm GMT+7

Nokia, Viettel deploy 1.2 Tb/s optics transmission in Vietnam, to help 5G growth

Nokia, Viettel deploy 1.2 Tb/s optics transmission in Vietnam, to help 5G growth

Finnish giant Nokia and Vietnamese telco Viettel have rolled out high-capacity optical network after achieving an optics transmission speed record of 1.2Tb a second per wavelength in Vietnam.

Companies - Fri, November 1, 2024 | 3:40 pm GMT+7

Korea SK Group sells 76 mln shares of Vietnam’s Masan, no longer major shareholder

Korea SK Group sells 76 mln shares of Vietnam’s Masan, no longer major shareholder

South Korea’s chaebol SK Group has sold 76.28 million shares of Vietnam’s conglomerate Masan, lowering its ownership in Masan to 3.67% of the charter capital and 3.86% of the voting shares.

Companies - Fri, November 1, 2024 | 3:16 pm GMT+7

HCMC-based Bamboo Capital's energy arm fulfils 98% of profit target in 9 months

HCMC-based Bamboo Capital's energy arm fulfils 98% of profit target in 9 months

BCG Energy JSC, a subsidiary of Vietnamese private conglomerate Bamboo Capital Group, posted a consolidated after-tax profit of VND504 billion ($19.94 million) in the first nine months of 2024, fulfilling 98% of the year's profit target.

Bamboo Capital - Fri, November 1, 2024 | 2:32 pm GMT+7