Vietnam military shipbuilder Ba Son, Korea SK ink offshore wind power deal

Ba Son & SREC - a joint venture between the Vietnamese defense ministry’s shipbuilder Ba Son and local builder SRE Construction JSC - and SK Oceanplant, under South Korea’s chaebol SK Group, have signed an offshore wind power deal.

The move is part of Ba Son’s expanded operation into building and exporting mega structures for the offshore wind power sector, with SK Oceanplant as a trusted partner, senior lieutenant colonel Mai Quoc Truong, CEO of Ba Son, said at the signing ceremony last weekend.

On the same day, SK Group chairman Chey Tae-won attended the inauguration of a new facility of the National Innovation Center (NIC) in Hanoi and met with National Assembly Chairman Vuong Dinh Hue.

During the meeting with Vietnam's top legislator, the SK chairman said the firm is willing to cooperate with Vietnam in energy transition thanks to its wealth of green energy technologies.

For his part, Hue called on SK to help Vietnam in energy transition and emission reduction by sharing experiences to update the legal framework. Vietnam’s National Assembly is willing to facilitate SK by building a suitable framework for foreign businesses, particularly SK, to invest and operate sustainably and successfully in Vietnam.

At the NIC event, SK Group said Vietnam is emerging as a regional manufacturing hub, with global giants setting up factories in the country. As a result, the demand for green energy, such as wind and solar power, will increase, providing opportunities for SK Group, said Suyeun Song, a senior executive of the chaebol.