Vietnam Japan fresh joint venture, Sharp - NSN, the handshake for new direction of solar power
Vietnam Japan fresh joint venture, Sharp - NSN, the handshake for new direction of solar power
The signing ceremony of a joint venture between Sharp Energy Solutions Corporation from Japan and local partner NSN Construction & Engineering JSC took place today December 20.The establishment of the joint venture (SNES) is the result of a thorough study of technical capabilities, construction, and corporate culture to find a common strategy and direction for both companies after more than two years of co-operation.
Decision No.11/QD-TTg, issued in April 2017, embedded the renewable energy trend in Vietnam’s sustainable development drive.
The establishment of the joint venture (SNES) is the result of a thorough study of technical capabilities, construction, and corporate culture to find a common strategy and direction for both companies after more than two years of co-operation.
The potential from the high level of solar irradiation and electricity feed-in tariffs (FiT) encouraged solar power development. In just over two years, a series of solar power projects were connected to the transmission system, especially in hot areas with high solar irradiation.
According to Notice No.402/TB-VPCP/2019, the prime minister decided to adjust the FiT for solar power projects, setting a new challenge for investors. In these new circumstances, investors will need to avail of high-technology and comprehensive solutions to reduce costs.
As rooftop solar power projects do not exert pressure on transmission lines or require separate areas for installation, they remain a priority area in renewable energy development policies with a stable FiT.
Leveraging successful co-operation of two solar power projects (TTC Phong Dien and TTC Ham Phu 2) and rooftop solar projects like Denso project, NSN Construction and Engineering JSC and Sharp Energy Solutions Corporation just inked a co-operation agreement to establish SNES (Sharp NSN Energy Solutions JSC), striving to optimise the strengths of each party and maximising resources to bring optimal technical and financial solutions for customers.
Sharp Energy Solutions Corporation, a wholly owned subsidiary of Sharp Corporation, has more than 60 years of experiences in the field of solar photovoltaic and is a reputable global manufacturer of solar photovoltaic module. Sharp is also an EPC contractor for solar power projects with proven technical solutions, ensuring sustainable output performance for the system for 25 years.
NSN Construction and Engineering is a Vietnamese contractor with more than 16 years of operation in four countries: Vietnam, Cambodia, Myanmar, and the Philippines, providing international-quality construction services to domestic and foreign customers, especially Japanese, European, American enterprises, Taiwan and Hong Kong enterprises.
Proud of Vietnamese hands and minds, NSN also became a highlight on Vietnam's renewable energy map after successfully building the first solar power plant with Sharp in the country, the 48MWp TTC Phong Dien solar power plant.
The SNES joint venture will inherit Sharp's international technology and technical capacity and NSN's resources and experience in Vietnam, which is expected to bring a new breeze and optimal technical solutions for solar power plants and rooftop solar power units.
NSN's cooperation with international partners in the field of solar energy as Sharp Corporation to establish Sharp NSN energy solution company once again affirms the quality of NSN.
With a strong strategy, long-term relationship, and on the basis of mutual trust and cooperation, SNES joining the market with international quality energy solutions will be one of the highlight names for developers in Vietnam.
