Sao Mai Solar Co., a subsidiary of Sao Mai Group, signed a share purchase agreement with TotalEnergies ENEOS for the sale of its 3.4 megawatt peak rooftop solar photovoltaic (PV) system portfolio on June 5.
Additionally, the two entities have signed an MoU to foster collaboration in the renewable energy sector, commencing with the development of further rooftop solar projects for Sao Mai Group's industrial facilities.
The 3.4 MWp portfolio of rooftop solar PV projects have been installed on the roofs of the Asia Fish Oil and IDI International Development and Investment JSC factories located in the Vam Cong Industrial Cluster in the Mekong Delta province of Dong Thap.
It currently generates 4.4 gigawatt hours of renewable energy each year, reducing more than 3,500 tons of CO2 emissions annually – equivalent to planting over 52,500 trees.
As a leading provider of solar solutions in the region, TotalEnergies ENEOS will leverage its international technical expertise and operate this portfolio efficiently to serve its business-to-business (B2B) customers.
Elodie Renaud, director of TotalEnergies ENEOS Renewables Distributed Generation Asia stated, “We are very pleased not only with this new addition to our portfolio of solar projects in Vietnam, but also with the demonstration of a common willingness for a long-term partnership through the signed MoU. These highlight TotalEnergies ENEOS’ commitment to further growing its distributed generation activities in the Asia-Pacific region and supporting more B2B customers in meeting their sustainable development goals.”
Established in 2022, the company is a 50/50 joint venture between TotalEnergies and ENEOS to develop on-site B2B solar distributed generation across Asia. It is based in Singapore, with a plan to develop 2GW of decentralised solar capacity over the next five years.
TotalEnergies is a global multi-energy company that produces and markets power sources with a global portfolio of 2GW of solar distributed generation in operation, under construction, or under development.
ENEOS is expanding its distributed generation business with one of the largest renewable power generation capacities in Japan. In ENEOS Group's long-term vision to 2040, it places next-generation energy supply and community services, including distributed power sources, as one of its growth businesses.
Founded in 2017, Sao Mai Solar is a member of the Sao Mai Group. The company has invested in the An Hao PV plant, boasting a capacity of 210MWp, situated in the Mekong Delta province of An Giang and the Europlast 50MWp solar power plant in Long An province.
| ||40 per cent renewable energy target for Vietnam's commercial power consumption |
To implement the Power Development Plan VIII (PDP8) and secure the nation's energy supply, power system flexibility concerns must be handled immediately.
| ||Renewable energy investment challenges in Vietnam: risks and delays |
Minister of Industry and Trade Nguyen Hong Dien has noted that many investors have neglected procedures and violated regulations in their rush to meet the Feed-in-Tariff deadline.