Shizuoka Gas, a Japanese energy company, has expanded into Vietnam’s renewable energy market by acquiring a 25% stake in the My Son-Hoan Loc Viet Solar Energy JSC (MSHLV). This acquisition marks Shizuoka Gas’s first venture into Vietnam’s renewable sector, reflecting its commitment to supporting the country’s clean energy transition.
This move aligns with Shizuoka Gas’s broader strategy of international expansion and investment in renewable energy sources.
The investment partners Shizuoka Gas with Hoan Loc Viet Joint Stock Company (HLV), a local Vietnamese company that holds a 60% stake in MSHLV. Together, they will manage the My Son solar plant, located in Ninh Thuan Province.
By securing this partnership, Shizuoka Gas gains an influential position in the plant’s operations, contributing its expertise in energy production while leveraging HLV’s local market knowledge to optimize the plant’s potential.
Shizuoka Gas Enters Vietnam’s Renewable Market with Stake in 50 MW Solar Plant, Supporting Clean Energy Goals
The My Son solar plant is a 50 MW facility that has been operational since 2019 and is anticipated to generate approximately 78 million kWh of electricity in 2024.
This level of output is sufficient to meet the annual energy needs of around 40,000 Vietnamese households, underscoring the plant’s role in supporting Vietnam’s growing energy demands. The facility is part of Vietnam’s efforts to diversify its energy sources and address its rising electricity needs through sustainable options.
Shizuoka Gas’s entry into Vietnam’s renewable energy market aligns with Vietnam’s ambitious energy targets, which include doubling the country’s power capacity by 2030 and boosting the share of renewable sources to 29% by 2045.
Through this investment, Shizuoka Gas aims to contribute to Vietnam’s sustainable development goals, leveraging its capabilities to support cleaner energy initiatives and reduce carbon emissions in one of Southeast Asia’s rapidly growing economies.
