NuriPlex Enters Vietnam Solar Power Market

[Asia Economy Reporter Park Hyungsoo] Nuriplex, an energy service platform company, has successfully entered the Vietnamese Advanced Metering Infrastructure (AMI) market and has now ventured into the solar power market, emerging as a new opportunity in the era of carbon neutrality.

Nuriplex Vietnam Corporation announced on the 11th that it signed an EPC contract for the construction of a rooftop solar power generation system with Singapore's state-owned energy company SP Group at the Caravella Saigon Hotel on the 9th.

SP Group also simultaneously signed a Power Purchase Agreement (PPA) to purchase electricity generated by the solar power system from TKG Taekwang Vina. A 20MWp (megawatt peak) rooftop solar solution will be installed at TKG Taekwang Vina’s manufacturing plant by October this year. It can supply up to 28,000 MWh (megawatt hours) of electricity annually.

It is expected to provide about 10% of the power consumed by the factory at maximum load while reducing more than 22,000 tons of carbon emissions annually. SP Group is a Singapore state-owned energy company, and last year, SP Group’s Vietnam branch established a joint venture with BCG Energy to enter the Vietnamese solar power market.

Vietnam aims to achieve ‘RE100’ by 2050, supplying 100% of its electricity consumption from renewable energy. It has set a plan to double its existing wind and solar power capacity by 2030.

Nuriplex established a corporation in Ho Chi Minh City in 2017 and has been promoting businesses including Advanced Metering Infrastructure (AMI), IoT and energy efficiency solutions, and IT communication equipment supply. Since 2020, Nuriplex Vietnam Corporation has been engaged in rooftop solar projects and factory energy management system (FEMS) projects locally in Vietnam, including the rooftop solar project at CJ Logistics Vietnam’s Can Tho cold storage.

CEO Kim Youngdeok said, "Based on the business capabilities accumulated through numerous energy efficiency projects utilizing IoT system construction and renewable energy, we plan to secure new growth engines in the fields of system design, construction, and operation management."

This content was produced with the assistance of AI translation services.