SK Ecoplant Accelerates Vietnam Rooftop Solar Power Project... $200 Million Investment Over 4 Years

Namisolla's rooftop solar power facility operating in the Sonadezi Industrial Complex in Vietnam.

[Asia Economy Reporter Kim Min-young] SK Ecoplant announced on the 25th that it will officially start a 250MW-scale rooftop solar power project in Vietnam by investing a total of 200 million USD over four years in partnership with Nami Solar, a local rooftop solar specialist company.

Rooftop solar power is a distributed generation method that installs panels on building roofs, offering the advantage of not requiring separate land acquisition and being free from location regulations.

Earlier, in August last year, the two companies established a joint venture, Saturn Solar Energy, to promote this project. The shareholding ratio is 49% for SK Ecoplant and 51% for Nami Solar. This project will be carried out through joint investment by both companies, with SK Ecoplant responsible for carbon credit registration, issuance, conversion, and sales, while Nami Solar will handle project development, permits, direct power purchase agreements (DPPA), engineering, procurement, and construction (EPC), and operations.

The project will be sequentially carried out at four industrial complexes located in the southern and central regions of Vietnam. By installing solar panels on the roofs of large factories and warehouses within the industrial complexes to produce eco-friendly electricity, most of the power generated will be consumed within the industrial complexes, and some will be sold to Vietnam Electricity (EVN). Additionally, carbon credits secured through renewable solar power generation will be brought into Korea and sold to companies obligated to comply with carbon credit allocation.

The first site to start the project is the Sonadezi Industrial Complex located in Dong Nai Province. With a scale of 65MW, construction will begin in February, power production will start in June, and the facility will be operated for the next 20 years.

Jung Kyu-cheol, Executive Director of Renewable Business at SK Ecoplant, said, "We will create synergy based on the strengths of both companies to successfully carry out this project and discover various renewable energy projects capable of securing carbon credits."