Singapore Electricity Group commits to invest 12 trillion dong in Vietnam by 2025

CJ Vina Agri Company cooperates with SP Group to install and operate the rooftop solar energy system – Photo: SP GROUP

Mr. Stanley Huang – CEO of SP Group – affirmed his commitment to help Vietnam achieve net-zero emissions by 2050.

“Vietnam is an important market for SP Group. We feel encouraged by the clear direction of the Vietnamese government for the next 10-20 years,” Huang told reporters.

According to SP Group’s chief executive officer, the group intends to support Vietnam’s efforts through sustainable energy solutions in cities, districts and towns, as well as customers in the commercial and public sectors. Karma.

Specifically, SP Group aims to achieve 1.5 GW in utility scale and rooftop solar projects by 2025. In which, SP Group’s owned subsidiaries are committed to developing develop the renewable energy portfolio in Vietnam to 1,000 MW by 2025.

Acknowledging that there is still a very short time before the milestone, only about 2.5 years, but Mr. Huang confirmed that this is a completely feasible goal.

“Seriously, we think the demand for rooftop solar power will continue to increase, at least growing at the same rate as GDP, which is at least 6-7% per year. That’s why I think it is possible to achieve the target of 1000 MW by 2025,” said Mr. Huang.

Mr. Brandon Chia – president of SP Vietnam and regional manager for Southeast Asia and Australia – said S$750 million is an initial estimate to serve the company’s above goals until 2025.

“However, after 2025, our ambition can be even bigger and grow with the market,” said Mr. Chia, noting that “the number of investments can then increase” because SP wants to stick with the market. with Vietnam market in the long term.

Efficient use of energy

To better assist Vietnam in reducing net emissions, Mr. Huang believes that a district cooling system will be an effective solution.

An area cooling system is a system for cooling clusters of buildings connected by a network of pipes to one or more mid-range cooling plants. According to SP Group, this model has helped Marina Bay area of Singapore 30% energy savings and 20,000 tons of carbon emissions reduction per year, equivalent to reducing the operation of 18,000 cars.

SP Group is looking for an iconic project in Vietnam to serve as a launch pad for the company’s services.

“If we had been here earlier, we could have cooperated with the Landmark 81 building to apply the area cooling system,” said Mr. Huang.

In addition, the executive affirmed that managing demand is as important as managing supply in the goal of reducing net emissions.

“We often focus on supply management, but I think demand management is also very important. We must do how to encourage the application of technological solutions to reduce demand and increase efficiency in energy use,” he said.