Solarvest progresses in Vietnam with 11 solar projects

KUALA LUMPUR: Solarvest Holdings Bhd via its wholly-owned subsidiary, Solarvest (Vietnam) Co Ltd, has secured 11 rooftop solar photovoltaic (PV) installation projects in Vietnam, with a combined capacity of 12.8 megawatt-peak (MWp).

The clean-energy specialist said in a Bursa filing it is collaborating with a well-known local partner that will deliver engineering, procurement, construction, and commissioning services for the projects.

Solarvest currently has a tender book with projects capable of generating up to 100 MWp in Vietnam, demonstrating its dedication to the growth and development of clean-energy initiatives in the region.

“We are delighted with the progress of our overseas expansion efforts, which is well-aligned with our five-year strategic roadmap. Including Vietnam, our overseas project tender book now stands at 620 MWp, indicating a strong job pipeline for the group.

“This strategic expansion positions Solarvest favourably to tap into new streams of overseas income,” executive director and group chief executive officer Davis Chong Chun Shiong said.

He said the prospects in Vietnam’s clean-energy market are highly promising, with its commitment to transition away from coal as outlined in the Vietnam Eighth National Power Development Plan (PDP8).

PDP8 establishes ambitious goals in the country’s energy generation mix, aiming for installed capacity of renewables to reach 150 gigawatts (GW) by 2030 and 500 GW by 2050.

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