Sembcorp Joins Hands with Becamex and VSIP to Bring Sustainable Smart Energy Solutions to Vietnam
September 24, 2019
Sembcorp Smart Energy Solutions Vietnam (Sembcorp), a newly incorporated wholly-owned subsidiary of Sembcorp Industries is pleased to announce it has signed a joint venture agreement with Becamex IDC Corporation (Becamex) and Vietnam Singapore Industrial Park J.V. Co (VSIP) to introduce a new generation of sustainable smart energy solutions to Vietnam.
The tripartite partnership will see a range of energy and utilities solutions such as renewable energy, waste-to-energy, wastewater treatment and water recycling brought to VSIP’s various integrated townships and industrial parks as well as other Becamex-owned industrial parks and facilities in Vietnam.
The first completed project under this collaboration is a 51 kilowatt-peak rooftop solar farm atop the 12,000-square foot VSIP administrative building in Binh Duong province. The solar panels installed will provide renewable energy and lower the carbon footprint for this building.
The installed solar energy system at VSIP’s administrative building is backed by a high-tech digital platform that is connected to Sembcorp’s Solar Performance Monitoring Centre housed in Singapore. The centralised platform remotely monitors in real-time the output of every single string of rooftop solar systems installed across Sembcorp’s solar projects in Singapore and in Southeast Asia. The platform provides enhanced visibility over Sembcorp’s renewables operations, and enables maintenance and troubleshooting teams to be swiftly deployed when needed – making the operations of solar assets more robust and reliable.
The rooftop solar project also marks Sembcorp’s entry into the renewable energy sector in Vietnam. Under the joint venture collaboration, Sembcorp has plans to develop rooftop solar facilities in other VSIP integrated townships and industrial parks as well as other Becamex-owned properties in the country.
Sembcorp is an established renewable energy player globally with over 2,600 megawatts of wind and solar projects across China, India and Singapore. The company has outlined ambitions to be the region’s leading independent renewable energy company and to double its global renewables portfolio to around 4,000 megawatts by 2022.
Koh Chiap Khiong, Head of Singapore, Southeast Asia & China (Energy), Sembcorp Industries, said, “We are pleased to be part of this partnership that is aimed at introducing smart energy and sustainable solutions to businesses in Vietnam. We believe these solutions will enable us to provide greater value-add to partners and customers of VSIP and Becamex by helping them to manage their carbon emissions and achieve cost savings at the same time.
“As an integrated energy and urban partner, Sembcorp’s green energy offering is line with the Vietnam government’s renewable energy goals and the company’s commitment to support a low-carbon and circular economy. It is also testament to our vision to be a leading independent renewable energy player.”
Nguyen Van Hung, Chairman of Becamex and Co-chairman of VSIP Group, said, “We want to ensure that VSIP and Becamex integrated developments continue to drive investments for the long term. Environmentally friendly features that enhance the sustainability of these projects will help to maximise their overall value to the economy and benefit the communities around us with cleaner environments. On that front, we are happy to collaborate with Sembcorp, to bring such sustainable energy solutions to Vietnam and our properties.”
The signing of this agreement is not expected to have a material impact on the earnings per share and net asset value of Sembcorp Industries for the financial year ending December 31, 2019.
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For analysts’ and media queries, please contact:
Archanaa N. Raja (Ms)
Manager, Group Strategic Communications & Sustainability
DID: +65 6723 3186
Email: [email protected]
Ling Xin Jin (Ms)
Assistant Vice President, Group Strategic Communications & Sustainability
DID: +65 6723 3384
Email: [email protected]
ABOUT SEMBCORP INDUSTRIES
Sembcorp Industries is a leading energy, marine and urban development group, operating across multiple markets worldwide.
As an integrated energy player, Sembcorp is poised to benefit from the global energy transition. With a strong track record in developing and developed markets, we provide solutions across the energy and utilities value chain, with a focus on the Gas & Power, Renewables & Environment, and Merchant & Retail sectors. We have a balanced energy portfolio of over 12,500 megawatts, including thermal power plants, renewable wind and solar power assets, as well as biomass and energy-from-waste facilities. In addition, Sembcorp is a world leader in offshore and marine engineering, as well as an established brand name in urban development.
Sembcorp Industries has total assets of over S$24 billion and over 7,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index, several MSCI and FTSE indices, as well as the SGX Sustainability Leaders Index and the Dow Jones Sustainability Asia Pacific Index.
At 7,933 hectares, VSIP, or Vietnam Singapore Industrial Park, is amongst the largest integrated townships and industrial parks in Vietnam. With operations across the southern, northern and central economic zones, VSIP has attracted 840 companies with investments valued at US$14 billion, generating 262,000 jobs from operating tenants. VSIP’s shareholders comprise of Becamex IDC Corporation and a Singapore consortium led by Singapore’s Sembcorp Development.
ABOUT BECAMEX IDC CORPORATION
Industrial Investment and Development Corporation Joint Stock Company (Becamex IDC Corp) was established in 1976. After more than 40 years of construction and development, Becamex is now a leader in the field of investment and infrastructure construction of industrial parks, residential areas, urban areas and transport infrastructure. The company has 22 member companies operating in the fields of securities, finance, insurance, banking, construction, trade, real estate, services, telecommunications – information technology, production of concrete, construction materials, mining, pharmaceuticals, health and education.