Malaysian clean energy firm Solarvest Holdings has secured a total of 11 rooftop solar PV installation projects in Vietnam. The projects have been secured under its wholly owned subsidiary, Solarvest (Vietnam) Co. Limited.
The projects will have a combined capacity of 12.8 megawatt peak (MWp).
According to the company statement, it will act as a “clean energy developer for these secured projects, actively engaging in project development, financing procurement, and the provision of comprehensive operations and maintenance services.”
For the projects, the company will be working with a local partner to deliver engineering, procurement, construction, and commissioning services.
Solarvest holds a project tender book of 100 MWp in Vietnam. It is actively exploring wind energy projects alongside its ongoing solar projects. Besides, it is also working on battery energy storage systems to enhance energy supply reliability and efficiency in projects.
The company shared that its expansion into the Vietnamese market aligns with its commitment to address the surging demand for sustainable energy solutions.
“We are delighted with the progress of our overseas expansion efforts, which is well-aligned with our 5-year strategic roadmap. Including Vietnam, our overseas project tender book now stands at 620 MWp, indicating a strong job pipeline for the Group,” Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong was quoted in a statement.
It comes at a time when Vietnam plans to have renewables installed capacity to reach 150 gigawatts (GW) by 2030 and 500 GW by 2050.
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