Samsung C&T Corp., a construction company under the Korean Samsung Group, has just signed a contract to build a combined cycle power plant worth $510 million in Vietnam.
Yonhap News reported on February 2 right after Samsung C&T company made an announcement to the media.
According to the announcement, Samsung C&T Corp. said it has received an order from PetroVietnam Power Corporation to build the first combined-cycle power plant in this Southeast Asian country.
Thereby, Samsung C&T Corp. will form a joint venture with construction company Lilama Corp. to design and manufacture gas and steam turbines, heat recovery steam generators, substations, and power transmission lines for a new factory in Vietnam.
However, in the announcement, Samsung C&T did not say when it will launch the construction of a new factory in Vietnam.
In Vietnam, Samsung has 6 factories and is building a research and development center. Samsung has invested more than $17.7 billion in Vietnam so far.
According to Vietnamese media, by the end of 2022, Samsung will inaugurate a research and development center in Hanoi, contributing to the development of Vietnam’s information technology industry.
Meanwhile, AC Energy (ACEN) – a subsidiary of Ayala Group of Filipino billionaire -Jaime Zobel de Ayala – has agreed to buy a 49% stake in Solar NT, a unit of Thailand’s Super Energy Group in Vietnam, for $165 million.
The share acquisition of Solar NT – making ACEN the company that will own and operate nine solar power plants across Vietnam with a combined capacity of approximately 837 megawatts – marks the beginning of the strategic partnership between ACEN and Super Energy.
The two companies plan to expand their renewable energy operations in Vietnam while also looking for other opportunities across Southeast Asia, AC Energy said in a statement on February 1, 2022. and was reported by Forbes on February 3.
Forbes quoted AC Energy President and CEO Eric Francia as saying: “Super Energy has achieved a lot in Vietnam and we look forward to supporting the expansion of solar energy in Vietnam. This will help accelerate ACEN’s active renewable energy expansion across the region.”
Eric Francia also said that Vietnam is one of AC Energy’s key markets in the region.
It is known that the above agreement comes just days after ACEN and UPC Solar Asia Pacific partner cooperated to invest $220 million to build a solar farm in the state of Madhya Pradesh, Central India.
Ayala Corporation is the oldest Philippine conglomerate increasing investments in renewable energy across Asia.
Meanwhile, in 2017, Super Energy expanded its investment in the green energy sector in Vietnam, including wind power and solar power.
As of 2021, Super Energy has invested in 148 renewable energy projects (in both Thailand & Vietnam), including solar power, wind power, biomass power (waste power) with a total supply capacity of 1,709.32MW.
Thoibao.de (Translated)
