[Featured Stock] Nuriplex Rises on Entry into Vietnam Solar Power Business

[Asia Economy Reporter Junho Hwang] Energy service platform specialist Nuriplex is riding an upward trend in the stock market on the 26th as it enters the Vietnamese solar power market following its presence in the Vietnamese AMI (Advanced Metering Infrastructure) market.

As of 10:41 AM that day, Nuriplex's stock price recorded 8,330 KRW, up 4.13% from the previous close. This rise appears to be due to Nuriplex's Vietnamese subsidiary signing an EPC contract for rooftop solar power generation systems with Singapore's state-owned energy company SP Group at the Caravella Saigon Hotel on the 9th (local time).

SP Group also simultaneously signed a Power Purchase Agreement (PPA) to supply the electricity generated by the solar power system to TKG Taekwang Vina. SP Group is a Singapore state-owned energy company that entered the Vietnamese solar power market last year by establishing a joint venture with BCG Energy Joint Stock Company through its Vietnam branch.

Through this contract, Nuriplex will carry out rooftop solar solutions with a capacity of 20MWp (megawatt peak) at TKG Taekwang Vina's manufacturing plant by October. This solution will supply up to 28,000 MWh (megawatt hours) of electricity annually, which can reduce more than 22,000 tons of carbon emissions per year.

Kim Youngdeok, CEO of Nuriplex, stated, "We plan to focus on securing a new growth foundation in Vietnam based on our business capabilities in system design, construction, and operation management accumulated through numerous energy efficiency projects utilizing IoT system construction and renewable energy."