Vietnamese and Thai companies partner to expand net zero solutions

Vietnamese and Thai companies partner to expand net zero solutions

In the first phase, Esco NEXT targets to deploy at least 390 MW of rooftop solar power systems and the service comes with variety of comprehensive green energy solutions for businesses seeking a greener and smarter energy transition.

Representatives of local SolarBK Group and Banpu NEXT, a net zero solution provider in Asia-Pacific from Thailand, ink an agreement on a joint-venture company in expanding the scale of renewable energy development in Việt Nam. Photo courtesy of SolarBK

Local SolarBK Group, the leading solar power company in Việt Nam, and Banpu NEXT, a leading net zero solutions provider in Asia-Pacific from Thailand, have agreed to establish a joint-venture company ‘Esco NEXT’ (Esco Next Company Limited) to expand the scale of renewable energy development in Việt Nam.

SolarBK Group stated that Esco NEXT builds on its successful 2022 partnership, reflecting a shared vision and aiming to expand renewable energy solutions for businesses and communities.

In the first phase, Esco NEXT targets to deploy at least 390 MW of rooftop solar power systems and the service comes with a variety of comprehensive green energy solutions for businesses seeking a greener and smarter energy transition.

Representatives of local SolarBK Group and Banpu NEXT, a net zero solution provider in Asia-Pacific from Thailand, ink an agreement on a joint-venture company in expanding the scale of renewable energy development in Việt Nam. Photo courtesy of SolarBK

This is especially relevant for export manufacturers, eco-industrial parks, high-tech parks, and companies that align with the vision of sustainable development, all contributing to the goal of achieving Net Zero by 2050.

Group Senior Vice President-Strategic Investment and Partnership of Banpu NEXT company James Rama Phataminviphas, said: “This strategic partnership is a key milestone in Banpu NEXT's renewable business to accelerate the growth of our solar rooftop portfolio in Việt Nam.

“We see Việt Nam as a potential renewable market for commercial and industrial (C&I) use and believe that this JV can strengthen our business growth and ecosystem while contributing to the country’s Net Zero goal.”

The General Director of SolarBK group Nguyễn Dương Tuấn, said: “We will focus on development and investment projects while laying the groundwork for a competitive electricity market powered entirely by renewable energy. This partnership will enable us to offer a variety of green energy solutions for businesses and the community.”

SolarBK, Việt Nam's leading clean energy company, specialises in investment and comprehensive solar power platforms. It has developed major projects, including those for Lego (7.34 MW), Vincom (16 MW), and VinFast (30 MW), and collaborated with firms like Perfetti van Melle and ITL. Based in HCM City, SolarBK pioneered made-in-Việt Nam solar lighting on Trường Sa (8 MW) and introduced the country’s first solar system monitoring technology, solar-powered lighting, and seawater filtration systems on offshore islands.

The two partners have been keeping investment in solar and wind power plants with a total capacity of 218 MW (Megawatt) since 2022, aiming at making a 25 per cent market share of rooftop solar power in Việt Nam.

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