SK finds local partner to add 700 MW of renewables in Vietnam

SK Eco Plant, part of South Korea’s SK Group, has joined forces with Vietnam-based Bamboo Capital Group Energy (BCGE) to develop a 700-MW portfolio of onshore wind, rooftop and ground-mounted solar projects in Vietnam.

The parties have signed a Memorandum of Understanding (MoU) outlining their proposal, SK Eco Plant said on Friday, adding that they are also “exploring other high-potential renewable energy projects.”

Under the plan, SK and BCGE intend to work on schemes that will add 300 MW of onshore wind capacity, some in the Gia Lai highland area in central Vietnam which is known for its ample wind resources. An additional 300 MW is reserved for rooftop photovoltaic (PV) projects and 100 MW is set aside for ground-mounted PV installations.

The goal of the partnership is to secure carbon emissions rights under the United Nations’ Clean Development Mechanism (CDM). Those credits can be used to offset greenhouse gas emissions or sold to other companies, the partners explained.

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