Shizen Energy Sells Shares of Solar Power Plant in Vietnam to ENEOS Group

Source: www.gulfoilandgas.com 12/13/2021, Location: Asia

Shizen Energy Inc. has 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 Group, 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.


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