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SP Group (SP) and CJ OliveNetworks Vina Co. (CJONS) announced a partnership to boost Vietnam’s clean energy transformation through the development of rooftop solar projects. SP, a leading utilities group and sustainable energy solutions provider in Singapore and the Asia Pacific, and CJ ONS, a subsidiary of South Korea’s CJ OliveNetworks in Vietnam, signed a memorandum of understanding (MOU) to jointly invest, build, and develop up to 50 Megawatt-peak (MWp) of rooftop solar projects across Vietnam over the next two years.
The partnership has secured its first project to install and operate 2.5MWp of rooftop solar for a CJ Vina Agri Co Ltd (CJ Agri) manufacturing plant by June 2022. The agreements were signed by Mr Phat Nguyen, Managing Director of Vietnam, SP Group, Mr Jang Myung Soo, Chief Executive Officer, CJ ONS, and Mr Nam Ki Don, General Director, CJ Vina Agri.
Through this partnership, SP and CJ ONS will combine their expertise, experience and resources in sustainable energy solutions to explore solar projects for CJ ONS’ affiliates and other commercial and industrial customers in Vietnam. CJ ONS will take on the engineering, procurement, and construction (EPC) functions for all joint solar projects with SP. The partnership supports Vietnam’s green ambitions to achieve carbon emission neutrality by 2050, and target to double the country’s existing wind and solar power generation capacity by 2030.
CJ Vina Agri, a subsidiary of South Korea’s CJ Group, specialises in the production of high-quality livestock, poultry, and aquaculture feed. The deployment of 2.5MWp of rooftop solar solutions for CJ Vina Agri’s manufacturing plant marks the company’s first large-scale injection of solar power into its energy mix. The rooftop solar solution is expected to be operational by June 2022 and can deliver up to 3,577 Megawatt-hour (MWh) of electricity annually. It will effectively provide 20 per cent of electricity consumed by the facility at peak load and will avoid carbon emissions of more than 3,500 tons annually, equivalent to taking approximately 1,100 cars off the road.
Mr. Jang Myung Soo, CEO of CJ ONS, said, “We are honoured to partner with SP to support Vietnam’s roadmap towards a cleaner, greener energy mix. SP’s sustainable energy solutions will be pivotal in enhancing energy-efficient plant operations for manufacturing facilities across all sectors and scales. We look forward to collaborating with SP to accelerate the renewable energy sector and meet growing demand in the industry by leveraging upon our combined strengths, network, expertise, and experience.”
This partnership is aligned with SP’s ambitions to leverage its capabilities in sustainable energy and digital solutions to create value-added solutions for its customers in Vietnam and establish SP’s position as a leading sustainable energy solutions player in the Asia Pacific.