ASIAELEC: Singapore’s SP Group to invest in Vietnam

Singapore’s state-owned SP Group and Vietnam’s BCG Energy have signed a memorandum of understanding (MoU) to invest in renewable energy projects in Vietnam.

The MoU provides an exclusive right for SP to acquire up to 49% of Skylar Joint Stock Company (Skylar), a subsidiary of BCG Energy.

Skylar currently has 61.1 MW of rooftop solar assets in operations across 14 provinces in Vietnam.

BCG Energy aims to achieve 2 GW of capacity by 2023 by extending into floating solar, wind power and LNG projects.