Malaysian clean energy company Solarvest Holdings Bhd (KLSE:SLVEST) has secured 12.8 MWp rooftop solar installation projects in Vietnam via its local subsidiary, it announced in a press release on Monday.
The total capacity will be distributed across 11 rooftop systems. Solarvest said that it will develop the projects, finance procurement and provide comprehensive operations and maintenance services once the systems are connected. An unnamed local partner has been engaged to provide engineering, procurement, construction, and commissioning (EPCC) services for the projects.
No other details were released.
Solarvest sees the Vietnamese clean energy market as “highly promising” due to its commitment to transition away from coal and to generate 150 GW from renewables by 2030.
Additionally, Vietnam’s ministry of industry and trade recently introduced a mechanism to incentivise the installation of rooftop solar power systems. The goal of the stimulus is to put solar panels atop half of the country’s office and residential building by 2030, according to the Malaysian specialist.
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