Tiếng ViệtVietnam is increasingly becoming an attractive destination for foreign corporations in the renewable energy sector. With its vast potential and strong commitment to energy transition, a number of international “giants” are actively expanding their investments, bringing Vietnam closer to its sustainable development goals.
Boosting Investment in Clean Energy
Chey Tae-won, Chairman of SK Group and Chairman of the Korea Chamber of Commerce and Industry (KCCI), recently visited Vietnam for a business trip. In a meeting with General Secretary To Lam on February 14, Chey Tae-won reported on his group’s investments in Vietnam and proposed plans for expanding future cooperation.
As one of the world’s leading energy groups, SK Group has expressed a keen interest in developing sustainable energy solutions in Vietnam. Specifically, the company plans to invest in LNG infrastructure, research and development of hydrogen energy, small modular reactors (SMRs), as well as AI and logistics-related projects.
At the same time, SK is also advancing renewable energy projects in Vietnam. In March 2024, its subsidiary, SK Ecoplant, signed a partnership agreement with BCG Energy (part of the Bamboo Capital Group) to develop solar and wind power projects totaling up to 700 MW. This includes 300 MW of onshore wind power, 300 MW of rooftop solar power, and 100 MW of ground-mounted solar power. This marks a significant step toward helping Vietnam achieve its goal of carbon neutrality by 2050.
Besides SK Group, many other global corporations are also investing in Clean Energy in Vietnam
- Sembcorp Industries (Singapore): With over 25 years of operations in Vietnam through the Vietnam-Singapore Industrial Park (VSIP) system, Sembcorp is expanding its renewable energy investments. The group has partnered with BCG Energy to develop a project portfolio with a total capacity of up to 1.5 GW.
- Copenhagen Infrastructure Partners (CIP) & Enterprize Energy (Denmark, UK): These two companies are rolling out large-scale offshore wind projects in Vietnam, including the La Gàn offshore wind project in Binh Thuan.
- Sungrow Renewables (China): Sungrow has invested in wind and solar projects in Vietnam with a total capacity of nearly 600 MW. The group is currently expanding its capacity by an additional 1 GW, with an investment of up to $1 billion.
The strong involvement of leading global corporations in the renewable energy sector not only helps ensure Vietnam’s clean energy supply but also drives the green economy. Thanks to a favorable investment climate, government incentives, and a commitment to sustainable development, Vietnam continues to solidify its position as a strategic destination for international investors in renewable energy and clean industries.