BCG Energy teams up with South Korea's SK Ecoplant and SLC for waste-to-energy projects

June 11, 2024 | 22:49
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BCG Energy has signed an agreement with South Korea's SK Ecoplant and Sudokwon Landfill Site Management Corp. (SLC) to develop waste-to-energy projects and waste treatment solutions in Long An and Kien Giang provinces.
BCG Energy teams up with South Korea's SK Ecoplant and SLC for waste-to-energy projects

Vietnam is facing a pressing waste problem as a result of economic development, rapid urbanisation, and population growth. The increasing amount of waste, especially household solid waste and plastic waste, poses a major environmental challenge to the country. The partnership is aimed at addressing waste issues with sustainable solutions to create clean energy and protect the environment.

The three sides will formulate investment plans for waste treatment solutions, including recycling, waste classification, and waste treatment at landfills. They will build a waste-to-energy factory and another project to reduce greenhouse gas (GHG) emissions in southern Vietnam, with potential locations including Long An and Kien Giang.

Song Byung Eog, chairman of SLC, said, "Vietnam has constantly exchanged with South Korea in the environment field, especially the reduction of GHG emissions. This is a viable business model illustrating the collaboration between government agencies while fostering partnerships between local energy and environmental companies."

Pham Minh Tuan, CEO of BCG Energy, said, "As the leading companies in South Korea and Vietnam in energy and waste treatment, we believe the tie-up with SK Ecoplant, and SLC will bring efficient solutions to resolve waste treatment issues, contributing to environmental protection and sustainable economic development."

According to an agreement between Vietnam and South Korea, the two countries will strengthen cooperation in the fields of natural resources and the environment. In particular, South Korea will allocate green official development assistance to Vietnam through the Korea International Cooperation Agency. The cooperation will promote investment attraction in Vietnam, contributing to the goals of energy transition, environmental protection, and climate change response.

In March 2024, SK Ecoplant also signed an MoU with BCG Energy to jointly develop renewable power projects with a total capacity of 700MW in Vietnam, including 300MW of onshore wind, 300MW of rooftop solar, and 100MW of ground-mounted solar.

SK Ecoplant ties up with BCG Energy to co-develop 700MW of renewable energy SK Ecoplant ties up with BCG Energy to co-develop 700MW of renewable energy

SK Ecoplant, the environment and energy arm of SK Group, signed a memorandum of understanding (MoU) with BCG Energy, a subsidiary of Bamboo Capital Group, on March 22 to jointly develop renewable energy projects in Vietnam.

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BCG Energy, the renewable energy subsidiary of the Bamboo Capital Group, signed a share purchase agreement on January 31 with Tam Sinh Nghia Investment Development JSC, a company specialising in waste management in Ho Chi Minh City.

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