Sembcorp powers up with renewable energy in Vietnam.

By Oliver Townsend Jun 19, 2024
Sembcorp Boosts Renewable Energy Assets in Vietnam.jpegOrginal image from: https://www.tipranks.com/news/company-announcements/sembcorp-boosts-renewable-energy-assets-in-vietnam

Sembcorp Industries has recently expanded its renewable energy assets in Vietnam by acquiring a 196MW wind and solar portfolio in collaboration with GELEX Group Joint Stock Company. This acquisition, along with the anticipated addition of a 49MW hydropower asset, will increase Sembcorp’s renewable capacity in Vietnam to 455MW, contributing to its global capacity of 14.4GW. The purchase of the hydropower asset is expected to be finalized in the latter half of 2024, pending regulatory approvals.

Sembcorp’s Renewable Energy Expansion in Vietnam

The recent acquisition of a 196MW wind and solar portfolio in Vietnam marks a significant milestone for Sembcorp Industries as it strengthens its presence in the renewable energy sector. By partnering with GELEX Group Joint Stock Company, Sembcorp has not only increased its renewable capacity in Vietnam but has also diversified its energy portfolio to include a mix of wind, solar, and hydropower assets.

Impact on Global Renewable Capacity

With the addition of the 196MW wind and solar portfolio and the upcoming inclusion of the 49MW hydropower asset, Sembcorp’s renewable capacity in Vietnam will reach 455MW. This expansion not only solidifies Sembcorp’s position in the Vietnamese market but also contributes to the company’s overall global renewable capacity, which currently stands at 14.4GW. By increasing its renewable energy assets, Sembcorp is actively supporting the transition towards a more sustainable energy future.

Benefits of Sembcorp’s Renewable Energy Investments

Sembcorp’s strategic investments in renewable energy assets offer a wide range of benefits, both locally in Vietnam and globally. By expanding its renewable capacity, Sembcorp is contributing to the reduction of carbon emissions, promoting environmental sustainability, and supporting the growth of clean energy sources. Additionally, these investments create opportunities for job creation, economic growth, and technological advancement in the renewable energy sector.

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