LYS Energy Group Incorporates its Subsidiary in Vietnam

LYS Energy Group (LYS), the leading Singapore home-grown Solar Independent Power Producer (IPP) incorporates its fully-owned subsidiary LYS Energy (Vietnam) in the country.

The Group has been operating in Vietnam since 2016 with the commissioning of its first solar PV system turnkey installation in Ho Chi Minh City on the roof of an F&B industrial client’s facility. LYS Energy Vietnam will further strengthen the Group’s local presence and is currently developing 50 MWp of solar rooftop projects across the country.

LYS Energy will rely on its new subsidiary and on the support of a network of local and international partners to develop its projects portfolio. Earlier this year LYS inked the deployment of 30MWp of distributed solar PV systems projects, addressing the Commercial and Industrial (C&I) sector demand in clean energy.

Aligned with the Group’s commitment to contributing to the achievement of Sustainable Development Goals (SDGs), the establishment of the wholly-owned subsidiary marks another new milestone for LYS Energy in Vietnam. Since its first project in 2016, the company has been resolute in its willingness to support Vietnam’s sustainability ambitions to driving a greater reliance on cleaner energy. LYS Energy Group has demonstrated its robust capability to successfully develop its expansion in the country through its strong understanding of local regulations and stakeholders of the industry, and also its agility to tailoring and implementing holistic and innovative clean energy solutions for its customers.

LYS Energy Group has deployed more than 50 MWp of high-performance solar photovoltaic (PV) systems, with a pipeline of more than 500 MWp in Singapore and across the South East Asian region. It is one of the fastest-growing clean energy producers and end-to-end solutions providers, with a five-star portfolio of commercial and industrial projects and customers across diversified and multiple industries. These comprise energy-intensive industries such as aerospace, electronics, food and beverage, logistics, manufacturing, pharmaceutical, and real estate.

Ms. Solène Willaume, Country Head of LYS Energy Vietnam said, “Since 2017, Vietnam has embarked on unprecedented solarisation of the country to meet its commitment towards the Paris Climate Agreement. The ambitious objectives of the government combined with the enrollment of 200+ multinational companies in the RE100 initiative created a very favorable environment for rooftop solar businesses to thrive in the South of Vietnam. As one of the leading regional clean energy platforms, LYS Energy ought to bolster up the development of its projects portfolio in Vietnam to respond to the C&I growing demand for renewable energy and support their carbon reduction targets. Indeed, we trust that our humble contribution this year to the country’s clean energy transition is just the beginning of longer-term achievements.”

“Benefitting from an abundant solar irradiation resource, especially in the Southern region and South-Central provinces, Vietnam has a significant potential for the development of rooftop solar PV applications for commercial and industrial coupled with massive private investment opportunities. The deployment of this solar potential atop of factories and manufacturing sites would support commercials and industrials sectors in the way they generate and consume energy – ie: improve the power supply reliability and reduce the national energy power demand burden. Recent figures have stated that nearly 600MWp of rooftop solar capacity has been rolled-out across the country in April this year, in which 40% are C&I PV systems installation. Our Group local strong expertise and innovative solutions that we tailored for our customers, will support further the acceleration of the clean energy adoption and boost our regional footprint while contributing to a low-carbon future.” said the Project Manager, Ms. Chu Thi Le Van.