SK ecoplant announced today that it has partnered with Nami Solar, a professional roof top solar company in Vietnam, to invest a total of $200 million over four years to start a 250MW roof solar business in earnest.
Roof Top Solar is a distributed power generation method that installs panels on the roof of a building.
The two companies previously established Saturn Solar Energy, a joint venture for this project in August last year. The stake is 49% by SK Eco Plant and 51% by Nami Solar.
For this project, SK ecoplant is in charge of registration, issuance, conversion, and sale of carbon emission rights, while Nami Solar is in charge of business development, licensing, EPC (design, procurement, construction), and operation.
In April last year, SK ecoplant was the first private construction company to register renewable energy power generation projects such as solar and wind power in Vietnam as a program Clean Development Mechanism (CDM) project of the United Nations Framework Convention on Climate Change (UNFCCC), laying the groundwork for securing Korean carbon credits.
The program CDM project is one of the global greenhouse gas reduction measures, and carbon credits will be recognized by the United Nations as much as the greenhouse gas reduction project performance. This allows companies to offset their own emissions or sell them to other companies.
This project will be carried out sequentially in connection with four industrial complexes located in southern and central Vietnam.
The company produces eco-friendly electricity by installing solar panels on the roofs of large factories and warehouses within the industrial complex.
In addition, SK ecoplant plans to import carbon credits secured through solar power generation, a renewable energy, to Korea and sell them to companies that allocate carbon credits.
The first place to start a business is the Sonadezi Industrial Park. The 65MW scale will start construction in February, start power production in June, and operate for the next 20 years.
