Vietnam’s Bamboo Capital, Korea's SK Ecoplant ink waste-to-power cooperation pact
Vietnam’s BCG Energy has teamed up with two South Korean firms – SK Ecoplant and Sudokwon Landfill Site Management Corp (SLC) – to implement waste-to-power projects in Vietnam.
BCG Energy is a subsidiary of the Bamboo Capital Group and SK Ecoplant is part of South Korean chaebol SK Group.
Under an agreement signed Monday, the three firms will focus on projects in the southern region, particularly the provinces of Long An and Kien Giang, facilitating environmental protection and sustainable development.
Executives of BCG Energy, SK ecoplant and Sudokwon Landfill Site Management Corp sign a cooperation agreement, June 10, 2024. Photo courtesy of Bamboo Capital Group.
They will join hands in waste processing (waste recycling, junkyard handling), construction of waste-to-power plants and development of emission reduction projects.
SLC chairman Song Byung Eog said the cooperation was a practical move by energy businesses of both two countries, adding to growing inter-governmental collaboration.
South Korea has agreed to provide green official development assistance (ODA) to Vietnam via the Korea International Cooperation Agency (Koica). This is expected to attract more investments into Vietnam, contributing to the nation’s major goals of energy transition, climate change adaptation and environmental protection.
Pham Minh Tuan, CEO of BCG Energy and vice chairman of Bamboo Capital Group, said the partnership between leading businesses in Vietnam and South Korea in energy and waste processing can provide an efficiency solution to waste management, environmental protection and sustainable economic development.
In March, SK Ecoplant and BCG Energy signed a memorandum of understanding to produce 700 MW of renewable energy in Vietnam. The two companies will jointly develop 300 MW of onshore wind power, 300 MW of rooftop solar power and 100 MW of onshore solar power.
The latest waste-to-energy cooperation pact partly implements the March agreement.
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