Sharp takes full control of Vietnamese solar joint venture

Sharp takes full control of Vietnamese solar joint venture

The acquisition is aimed at further business expansion in the growing Vietnamese market.

Sharp NSN has changed its company name to Sharp Energy Solution Vietnam Company Limited (SESV) following the acquisition. — Photo courtesy of the company

Japan’s Sharp Energy Solutions Corporation (SESJ) has completed the acquisition of all shares held by the Vietnamese firm NSN Construction & Engineering JSC in their joint venture Sharp NSN Energy Solution JSC, according to a Sharp Energy press release.

As a result, Sharp NSN, which was a joint venture established in Việt Nam by Sharp Energy and NSN in March 2020, has become a wholly owned subsidiary of the Japanese firm.

In addition, Sharp NSN has changed its company name to Sharp Energy Solution Vietnam Company Limited (SESV).

Since its establishment in March 2020, SESV has been engaged in engineering, procurement and construction services for solar power plants as well as operation and maintenance services within Việt Nam.

The acquisition aims to help with Sharp Energy's further business expansion in the growing Vietnamese market.

Amid continued growth in demand for renewable energy in Việt Nam, the full acquisition is expected to accelerate decision-making and enable more integrated business operations.

Through SESV, expansion into new business areas will be pursued, including rooftop solar power systems for factories and commercial facilities, as well as solar power plants combined with Battery Energy Storage Systems, according to the release. 

Bizhub