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Sembcorp to bring smart energy solutions to Vietnam in tripartite pact
A SEMBCORP Industries unit has entered into a tripartite partnership with Vietnam state-owned property developer Becamex IDC Corporation (Becamex) and Vietnam Singapore Industrial Park JV Co (VSIP) to bring smart energy solutions to Vietnam.
VSIP is one of the largest integrated townships and industrial parks co-initiated by the Singapore and Vietnam governments, and jointly developed by Sembcorp Development and Becamex.
The latest joint venture agreement was struck by the group’s unit Sembcorp Smart Energy Solutions Vietnam and will see the creation of solutions for renewable energy, waste-to-energy, wastewater treatment and water recycling.
The solutions will be implemented in 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 partnership is a 51 kilowatt-peak rooftop solar farm sitting on top of a 12,000 square foot VSIP administrative building in Binh Duong province.
This project marks Sembcorp’s foray into the renewable energy sector in Vietnam, and will see the group make plans to develop rooftop solar facilities in other sites under VSIP and Becamex.
Koh Chiap Khiong, Sembcorp Industries head of Singapore, South-east Asia and China (Energy), said: "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."
Nguyen Van Hung, Becamex chairman and VSIP Group co-chairman, said that they wanted 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," he added.
Sembcorp said the agreement is not expected to have a material impact on the earnings per share and net asset value of the group for the fiscal year ending Dec 31. The counter is trading at S$2.16, up two Singapore cents or 1 per cent as at 2.13pm on Tuesday.