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SP Group acquires first solar farm assets in Vietnam

SP Group (SP) has announced the acquisition of 100 MWp of solar power assets in Vietnam. It marks SP’s first investment in solar farm assets in Vietnam.

SP group is a pioneer energy utilities group working across Singapore and Asia Pacific. Regarding Vietnam, the company has planned to invest and develop 1.5 GW of utility-scale and rooftop solar projects by 2025.

The two solar farms are identified as the Europlast Phu Yen Solar Power Plant (50 MWp) and the Thanh Long Phu Yen Solar Power Plant (50 MWp). The former plant generates 60 GWh of clean power annually, while the later one generates 70 GWh of clean electricity annually.

Both these plants are located in the south-central coast of Vietnam.

According to the company, these two solar farms will generate a total of 130 GWh of clean electricity to the Vietnam Electricity (EVN) power grid each year. Both solar farms will help Vietnam to reduce its carbon dioxide emissions by up to 105,000 tonnes annually, it stated.

Brandon Chia, Managing Director, Sustainable Energy Solutions (SEA and Australia), SP Group, was quoted in a statement, “This acquisition is a key milestone of our long-term ambitions to help Vietnam transition towards a cleaner and economically sustainable future by incorporating more renewable energy for the country. Through our solar power offerings in both rooftop and utility-scale solutions, SP Group will be a one-stop provider to help our Vietnam customers meet their decarbonisation goals. “

The company further aims to support Vietnam go green by utilizing their potentials in sustainable energy solutions.

SP has been developing rooftop solar projects Vietnam since 2021.

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