SK Group is set to enhance its collaboration with the Vietnamese government to promote eco-friendly ventures, spanning carbon capture, waste recycling, and the development of solar and wind farms.
The South Korean conglomerate has been a forerunner in Vietnam’s rapidly growing renewable energy sector, with operations in solar and onshore wind power as part of its commitment to achieving net zero emissions by 2050.
SK Group’s Chairman, Chey Tae-won, expressed the intention to support Vietnam’s transition to clean energy and work towards carbon neutrality using advanced technologies like carbon capture, utilization, and storage (CCUS), small nuclear reactors, and energy solutions.
The goal is to create an eco-friendly ecosystem throughout the production-to-consumption process in collaboration with local governments. Vietnam’s favorable climate conditions make it an ideal location for solar and wind power generation, with plans to increase the proportion of solar and wind power in the total energy supply to 61% by 2045, up from 27% in 2021.
SK E&S, a subsidiary specializing in LNG power generation, leads SK Group’s clean energy initiatives in Vietnam, including the operation of solar farms with increasing capacity.
In addition, SK E&C has formed a joint venture with Gia Lai Electricity, a subsidiary of Vietnam’s prominent renewable energy group TTC, to work on a solar energy project with rooftop panels. The venture is also constructing a substantial 756MW onshore wind power plant near the Laos border.