Energy conglomerate Banpu Plc and industrial estate developer Amata Corporation form JV for solar initiative in Vietnam
A massive rooftop solar power initiative is being developed at two industrial estates in Vietnam through a new collaboration between two Thai firms in a bid to support the host nation’s net-zero campaign.
Energy conglomerate Banpu Plc and industrial estate developer Amata Corporation formed the Amata Esco Next Llc joint venture to drive the project, with registered capital of 1.1 million baht.
The project is expected to develop rooftop solar installations with a combined capacity of 227 megawatts across two of Amata’s major industrial parks in Vietnam: the 686-hectare Amata City Ha Long, and the 410-hectare Amata City Long Thanh.
Construction is expected to commence early next year. The cost of the development has not been disclosed.
Banpu holds a 65% stake through Esco Next Llc, while Amata is participating via Amata VN with a 35% stake.
“This initiative responds to Vietnam’s growing electricity demand and supply challenges while aligning with the country’s net-zero ambitions and the national power development plan [PDP] VIII,” said Smittipon Srethapramote, chief executive of Banpu Next, the energy technology arm of Banpu and parent company of Esco Next.
Under PDP VIII, Vietnam wants to make a major shift towards renewable energy, aiming for 47% of total power generation capacity from renewables by 2030 as well as a balance between greenhouse gas emissions and absorption by 2050.
According to Banpu, Vietnamese solar engineering firm Solar BK has been appointed as the project’s construction and maintenance partner.
The partnership is expected to transform Amata’s industrial parks into green manufacturing hubs, balancing economic growth with environmental responsibility.
This marks a crucial step towards Amata’s 2040 carbon-neutral goal by integrating renewable energy directly into the company’s industrial ecosystem, said Somhatai Panichewa, chief executive of Amata VN.
“We’re enhancing our value proposition for global manufacturers who increasingly prioritise sustainability and energy cost savings in their site selection process,” she said.
Source: https://www.bangkokpost.com/business/general/3131385/banpu-amata-form-jv-for-solar-initiative-in-vietnam
