Sembcorp enters JV with Becamex and VSIP for sustainable energy services in Vietnam

Vietnam 200,000 dong noteVietnamese currency

Sembcorp Industries’ subsidiary Sembcorp Smart Energy Solutions Vietnam has entered a joint venture deal with Becamex IDC Corp. (Becamex) and Vietnam Singapore Industrial Park J.V. (VSIP) to introduce sustainable smart energy services to Vietnam, Sembcorp said in a filing to SGX Tuesday.

The joint venture will introduce services including renewable energy, waste-to-energy, wastewater treatment and water recycling to VSIP’s integrated townships and industrial parks and Becamex-owned industrial parks and facilities, the filing said.

The first project under the joint venture is a 51 kilowatt-peak rooftop solar farm on a VSIP administrative building in Binh Duong province, Sembcorp said, adding the project will provide renewable energy for the building.

The solar system is connected to Sembcorp’s Solar Performance Monitoring Centre in Singapore, which centrally monitors all of the company’s rooftop solar systems in Southeast Asia, the filing said. The platform allows maintenance and troubleshooting teams to respond to issues more quickly, Sembcorp said.

The project is Sembcorp’s first renewable energy project in Vietnam, and under the joint venture, it plans to develop more of them at VSIP and Becamex properties, the filing 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,” Koh Chiap Khiong, head of Singapore, Southeast Asia and China for energy at Sembcorp, said in the statement.

“As an integrated energy and urban partner, Sembcorp’s green energy offering is line with the Vietnam government’s renewable energy goals and the company’s commitment to support a low-carbon and circular economy,” Koh added.

Nguyen Van Hung, chairman of Becamex and co-chairman of VSIP Group, said his companies were “happy to collaborate” with Sembcorp.

“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,” Nguyen said in the statement.

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