SK Ecoplant aims for bigger footing in Vietnam’s solar market
South Korea’s energy and environmental solutions provider SK Ecoplant is taking steps to enlarge its presence in Vietnam’s solar panel market as the Southeast Asian country strives to become carbon neutral by 2050.
The company on Monday announced the completion of a 1MW solar panel rooftop for a plant owned by Samil Vina, a Vietnam-based textile exporter based in the southern province of Dong Nai.
The plant will consume all the energy generated at the site, without need to build an additional power grid, SK Ecoplant said in the release, adding that the use of renewable energy is requested by Samil Vina’s customers.
Solar panel rooftop installation at a plant owned by Samil Vina in Dong Nai province, southern Vietnam. Photo courtesy of SK Ecoplant.
SK Ecoplant plans to expand the supply of self-consumption rooftop solar power generation facilities in Vietnamese industrial complexes that require a stable power supply.
Besides the recently completed project, the firm is carrying out others totaling nearly 7 MW in the southern industrial provinces of Dong Nai and Binh Duong, and Hai Phong city in the north.
With this project, SK Ecoplant hopes to secure carbon emissions credits, it said. SK Ecoplant completed registration for the Clean Development Mechanism (CDM) project under the UN Framework Convention on Climate Change in Vietnam in 2021. CDM is one of the emission-reduction measures and a project to secure carbon emissions credits from the UN by implementing greenhouse gas reduction projects.
Topsun, a Korean company in which SK Ecoplant invested in 2022, will supply the solar modules. Topsun and SK Ecoplant also have partners in projects such as the Concho solar power plant in Texas and a direct power purchase agreement with SK Hynix.
“It is also expected to have the effect of solidifying SK Ecoplant's position in Vietnam's renewable energy market, which has high potential,” the firm noted.
"Vietnam is a place where the demands for stable power supply and carbon reduction coexist due to economic growth and industrial development," said Kim Jung-hun, SK Ecoplant's managing director.
In March, SK Ecoplant, formerly SK Engineering & Construction Co., entered into an agreement with BCG Energy, a subsidiary of Bamboo Capital Group and a top-tier renewable energy company in Vietnam's, to produce 700 MW of renewable energy in the Southeast Asian country.
Also on Monday, SK Ecoplant and compatriot company Sudokwon Landfill Site Management Corp inked an agreement with BCG Energy to implement waste-to-power projects in southern Vietnam. The pact partly implements the March agreement.
- Related News
- Read More
Vietnam's Novaland wins lawsuit against Korean giant Taekwang Vina over HCMC project
Vietnam's leading developer Novaland has won a legal dispute with South Korea’s Taekwang Vina regarding a major real estate project in Thu Duc city, Ho Chi Minh City.
Companies - Sat, May 3, 2025 | 11:20 am GMT+7
Vietnamese approves two-year sandbox trial of P2P lending
Vietnam will roll out a two-year sandbox trial of peer-to-peer (P2P) lending, credit scoring, and data sharing via open application programming interfaces, starting July 1, according to a newly-issued government decree.
Banking & Finance - Sat, May 3, 2025 | 8:17 am GMT+7
Hyundai Vietnam joint venture to spend $100 mln on shipbuilding capacity expansion
Hyundai Vietnam Shipbuilding Co., Ltd. (HVS), a joint venture between South Korea and Vietnam, is set to invest an extra $100 million in expanding its shipbuilding capacity in Vietnam.
Industries - Fri, May 2, 2025 | 8:03 pm GMT+7
Vietnam's economic hub HCMC moves closer to establishing int’l financial center
After more than two decades of planning, the vision of establishing an international financial center in Ho Chi Minh City is finally gaining real momentum as the Politburo has officially endorsed the proposal, drawing significant attention from investors.
Southeast Asia - Fri, May 2, 2025 | 6:04 pm GMT+7
Vietnam cuts LNG import tariff to boost clean energy transition
The Vietnamese Government has reduced the preferential import tariff on LNG from 5% to 2% under a decree issued on March 31, which marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.
Southeast Asia - Fri, May 2, 2025 | 3:26 pm GMT+7
Vietnam races against time to have EC’s 'yellow card' lifted before Sept 15
Vietnam's Ministry of Agriculture and Environment has proposed Prime Minister Pham Minh Chinh issue an action plan to address the European Commission's (EC) “yellow card” warning and prepare for the fifth EC inspection.
Southeast Asia - Fri, May 2, 2025 | 3:21 pm GMT+7
Vietnam's property market sees mixed prospects in Q2: analysts
Vietnam’s real estate market is expected to see positive developments in Q2, with developers launching new projects, but uncertainties from U.S. trade policies may influence market sentiment and consumer confidence, said analysts.
Real Estate - Fri, May 2, 2025 | 3:14 pm GMT+7
Vietnam’s largest container fleet operator records 478% profit growth in Q1 on surging shipping rates
Vietnam’s Hai An Transport and Stevedoring JSC (HAH) reported after-tax profit of nearly VND274 billion ($10.54 million) in Q1/2025, skyrocketing 478% year-on-year, thanks to soaring shipping rates.
Companies - Fri, May 2, 2025 | 3:00 pm GMT+7
Vietnam's leading construction contractor Hoa Binh targets US market amid low domestic profit
Hoa Binh Construction Group, one of Vietnam's top contractors, is negotiating a joint venture agreement with American partners to pave the way for implementing major projects in the U.S.
Companies - Fri, May 2, 2025 | 2:04 pm GMT+7
Northern Vietnam province Hai Duong to have first urban area-golf course complex
Hai Duong province's authorities have granted in-principle approval for the Lien Hong New Urban Area and Golf Course project, with a total investment of VND11 trillion ($423 million).
Real Estate - Fri, May 2, 2025 | 9:59 am GMT+7
Central Vietnam 'awakened' by major resort projects
From once-abandoned coastal lands to emerging resort-urban areas, central Vietnam is witnessing a strong resurgence of investment.
Real Estate - Fri, May 2, 2025 | 9:22 am GMT+7
Vietnam Airlines posts strong profit on international passenger surge, fuel price decline
National flag carrier Vietnam Airlines (HVN) said on Wednesday that it recorded consolidated pre-tax profit of around VND3.6 trillion ($138 million) on consolidated revenue of approximately VND31.1 trillion ($1.2 billion) in Q1/2025.
Companies - Fri, May 2, 2025 | 8:17 am GMT+7
S Korean firms pledge nearly $2 bln in new investments in Indonesia
South Korea's companies will increase their investment in Indonesia by $1.7 billion, Indonesian Economic Minister Airlangga Hartarto said on Monday after attending a meeting between a Korean business association and President Prabowo Subianto.
Southeast Asia - Thu, May 1, 2025 | 10:01 pm GMT+7
Malaysia develops sustainable semiconductor ecosystem
The Malaysian Investment Development Authority (MIDA), the Federation of Malaysian Manufacturing (FMM), and Bintang Capital Partners (Bintang Capital) on Monday announced a landmark MoU signed recently regarding the establishment of Bintang Semiconductor Impact Fund I (BSIF I).
Southeast Asia - Thu, May 1, 2025 | 9:59 pm GMT+7
Vietnam to become second-largest economy in Southeast Asia by 2036: CEBR
The Centre for Economic and Business Research (CEBR), in its report World Economic League Table 2022, forecasts that Vietnam will become the second-largest economy in Southeast Asia after Indonesia and the 20th-largest economy in the world by 2036.
Southeast Asia - Thu, May 1, 2025 | 9:42 pm GMT+7
Vietnam conglomerate Vingroup's Q1 revenue surpasses $3 bln for first time
Vingroup, Vietnam's leading private conglomerate, recorded revenue of VND84.05 trillion ($3.3 billion) in the first quarter of 2025, its record high.
Companies - Thu, May 1, 2025 | 3:44 pm GMT+7
