LYS Energy eyes up fresh opportunities in Vietnam

December 26, 2023 | 15:38
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As a powerful Singapore home-grown solar independent power producer, LYS Energy Group is seeking to expand in Vietnam to tap into local green growth potential. Thiagu Visvalingam, deputy chief operating officer, discussed with VIR’s Bich Thuy the company’s journey ahead.

Having operated in Vietnam for around three years, has the company’s performance met your expectations in the country?

LYS Energy eyes up fresh opportunities in Vietnam
Thiagu Visvalingam, deputy chief operating officer

LYS Energy has made significant strides in establishing itself as a key player in Vietnam’s renewable energy sector.

Our highly capable local team, helmed by Country Manager Solène Willaume, has successfully constructed and implemented over 15MWp of commercial and industrial (C&I) rooftop solar projects across Vietnam. These projects have not only showcased our technical expertise but have also contributed to Vietnam’s renewable energy capacity and the carbon footprint of our customers.

LYS Energy has been at the forefront of innovation in solar technology. The company has continuously adopted cutting-edge technologies to improve the efficiency and reliability of its C&I rooftop solar solutions.

We have forged ties with local businesses, government entities, and other stakeholders. Our operations are aligned with Vietnam’s sustainable development goals by providing clean and reliable energy solutions. We have also invested in the development of local talent, contributing to the growth of the renewable energy workforce in Vietnam.

Our performance in the Vietnamese market reflects a combination of successful project execution, strategic partnerships, technological innovation, community engagement, and a commitment to sustainability. This underscores our dedication to contributing positively to Vietnam’s renewable energy landscape and aligning with the country’s broader development objectives.

What are LYS Energy’s priorities in its strategy in Vietnam?

Our strategic priorities moving forward align closely with the evolving landscape of the renewable energy sector in Vietnam.

LYS Energy is poised to aggressively expand its C&I rooftop solar portfolio in Vietnam. This entails identifying new opportunities, cultivating strategic partnerships with businesses, and leveraging our technical expertise to implement bespoke, sustainable solar solutions across a diverse array of industries.

At the forefront of our strategy is a commitment to innovation and seamless integration of cutting-edge tech in solar energy. This involves exploring advancements in solar panel efficiency, embracing energy storage solutions, and deploying smart grid technologies to enhance the performance, reliability, and adaptability of our solar projects.

We remain dedicated to ongoing community engagement, with our initiatives spanning educational outreach and environmental sustainability efforts to increase awareness surrounding the myriad of benefits brought about by the uptake of renewable energy, the championing of sustainable practices, and contributing to cultivating a positive perception of solar energy within local communities.

Environmental, social, and governance criteria remain an indispensable aspect of our vision. We will persist in investing in impactful social and environmental programmes that enhance the wellbeing of the communities in which we operate. We also prioritise strong governance with a focus on sustainability by ensuring that our actions are aligned with our commitment to sustainable practices and stakeholder value.

LYS Energy is committed to furthering investments in the development of local talent, contributing to the growth of a highly skilled workforce in Vietnam.

Vietnam is promoting the energy transition towards a low-carbon future. What are the opportunities in Vietnam you foresee, and how can LYS Energy support the country’s efforts?

Vietnam’s focus on a low-carbon future opens up ample opportunities in the expansion of renewable energy capacity. LYS Energy can actively contribute by continuing to develop and implement C&I rooftop solar projects. These not only reduce carbon emissions but also contribute to a diversified and sustainable energy mix.

Investing in renewable energy enhances Vietnam’s energy independence by reducing reliance on traditional fossil fuels. We can support this goal by furthering the deployment of solar solutions, contributing to a more resilient and secure energy infrastructure.

The energy transition creates opportunities for green job creation and economic growth. LYS Energy, through its projects, continues to support the growth of the renewable energy workforce in Vietnam. Moreover, we can further engage in the energy transition by introducing and implementing innovative solar technologies that enhance energy efficiency and address specific challenges in the Vietnamese context.

We advocate for and strive to contribute to the development of supportive policies that facilitate the energy transition. This includes engaging in dialogue with policymakers to address regulatory challenges and promote incentives that encourage further investment in renewable energy.

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By Bich Thuy

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