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VinaCapital Group, one of Vietnam’s leading investment management companies with over USD 3.7 billion in assets under management, announced that EDF Renewables, an international leader in renewable energy, has made a significant investment in SkyX Energy, the holding company of SkyX Solar, a rooftop solar power developer, and a VinaCapital subsidiary.
With EDF Renewables as a strategic partner, SkyX Solar which has around 30 MWp of solar projects under operation, plans to invest more than USD 100 million to further develop 200 MWp of rooftop solar and distributed energy solar projects for commercial and industrial customers in Vietnam over the next 2-3 years, said the company statement.
“A few years ago, we recognized the critical role that clean energy would play in powering Vietnam’s continued growth and development. The launch of SkyX Solar in 2019 is just one of our initiatives in the sector, and in a very short span of time, it has grown to become a leading player in the commercial and industrial rooftop solar market in the country,” commented Don Lam, Co-Founder, and CEO of VinaCapital.
“We look forward to working with EDF Renewables to help SkyX Solar grow as well as exploring other projects where there are synergies,” commented Don Lam, Co-Founder, and CEO of VinaCapital,” he added.
Mr. Samresh Kumar, CEO, and Founder of SkyX Solar stated, “SkyX Solar has around 100 MWp of rooftop solar projects under operation and/or development and we intend to partner with more industrial companies in Vietnam to build many hundred MWs of solar capacity with them. EDF Renewables, a subsidiary of EDF, is one of the world’s leading renewable energy companies, so I could not be more pleased that they have chosen to partner with and invest in SkyX. Their expertise and resources will enable us to further expand and bring our world-class solutions to even more customers in Vietnam.”
Highlighting the potential for renewables in Vietnam, Yalim Ozilhan, Southeast Asia director of EDF Renewables said, “The potential is enormous, and we are keen to expand our footprint in the country, drawing on our global knowhow in rooftop solar solutions.”
“We are delighted to partner with VinaCapital and invest in SkyX Solar, which has quickly scaled up providing world-class rooftop solar solutions to meet the high demand for low carbon sources of energy from commercial and industrial customers, something that is set to increase in the years ahead,” added Ozilhan.