Shizen Energy Sells Shares of Solar Power Plant in Vietnam to ENEOS Group
Updated: December 14, 2021
Shizen Energy Inc. (“Shizen Energy”) announced that Shizen Malaysia Sdn. Bhd., a subsidiary of Shizen Energy, has sold 19% of its shares of VKT-Hoa An Joint Stock Company, which operates Hau Giang Solar Power Plant (35MWp (DC)), a large-scale solar power plant in Vietnam, to ENEOS Vietnam Company Limited (“ENEOS Vietnam”), which is a subsidiary of ENEOS Corporation in Vietnam.
This solar power plant is a joint project with local partner Halcom Vietnam JSC which began commercial operation in December 2020 and has a power generation capacity of 35MWp (DC). With ENEOS Vietnam joining this project, Shizen Energy Group, Halcom Vietnam, and ENEOS Group will be working together to generate power in Vietnam. Shizen Malaysia Sdn. Bhd. holds a 51% stake and leads the operation of this business.
Vietnam’s economic development has led domestic electricity demand to grow at an annual rate of approximately 10%, however there are concerns regarding power shortages mainly due to delays in the expansion of coal-fired thermal power plants. Therefore, the Vietnamese government is taking measures to raise the renewable energy ratio to 40% by 2045.
This power plant is expected to generate a stable amount of electricity due to the abundant amount of sunshine it receives in its location throughout the year. In Vietnam, where the demand for electricity is increasing year by year, this power plant will supply clean electricity derived from renewable energy sources, contributing to both economic development and reduction of carbon dioxide emissions in the region.
With the PURPOSE of “We take action for the blue planet”, Shizen Energy Group is committed to building renewable energy power plants around the world and expanding the use of safe and sustainable electricity in order for more people to continue to live happily on this planet. We will continue to accelerate the realization of a “100% renewable energy world” through the development, construction, operation, and maintenance of high-quality, locally-based renewable energy power plants in collaboration with our partners around the world.
【The ENEOS Group and ENEOS Corporation】
Under ENEOS Holdings, Inc., the ENEOS Group has developed businesses in the energy and nonferrous metals segments, from upstream to downstream. The Group’s envisioned goals for 2040 are: becoming one of the most prominent and internationally-competitive energy and materials company groups in Asia, creating value by transforming our current business structure, and contributing to the development of a low-carbon, recycling-oriented society with the pursuit of carbon neutral status in our own CO2 emissions. ENEOS Corporation, one of the principal operating companies in the Group, is contributing to achievement of the Group’s envisioned goals through a broad range of energy businesses.
・ URL: https://www.eneos.co.jp/english/
【Halcom Vietnam JSC】
Halcom Vietnam, a Vietnamese enterprise founded in 2001, has gradually affirmed the position in the field of Investment and Consultancy in Urban and Infrastructure Development. Halcom focuses its investment on renewable energy, water supply & drainage, waste to energy and transportation, and has conducted over 200 consulting services, most of all are ODA projects financed by international organizations such as the World Bank (WB), Asian Development Bank (ADB), Japanese International Cooperation Agency (JICA), Ministry of Foreign Affairs of Finland (MFA), in around 50 local and regional cities and provinces.
With the unique business philosophy “Profits should not be pursued by all means”, Halcom Vietnam aims to be a leading group of sustainable development in urban and infrastructure sectors in Southeast Asia, committing sustainable benefits to the community and society with transparency and innovation.
・ URL: www.halcom.vn
【Shizen Energy Inc.】
Founded in June, 2011. With the PURPOSE of “We take action for the blue planet”, Shizen Energy Group has contributed to the development of approximately 1GW of renewable energy throughout Japan. The company’s business includes development, engineering, procurement, construction (EPC), operation and maintenance (O&M), and asset management businesses for the installation and operation of large-scale renewable energy power plants. It also provides decarbonization solutions such as power purchase agreements (PPA) for medium and small-scale power plants and electricity retailing. Since 2016, the company has also been focusing on its overseas operations, expanding its development and power generation projects in areas such as Southeast Asia and Brazil.
・ URL: https://www.shizenenergy.net/en/