Enel Green Power begins business in Vietnam
- Italian renewables company Enel Green Power has near to 5,700 MW of projects in the general pipe in Vietnam that are promoted by its new business EGP Vietnam (EGPVN).
EGP Vietnam officially launched in December 2021, and also is currently servicing improving the 915-MW advanced-stage project pipe to 1,600 MW by the end of the year, Enel Green Power claimed of its new subsidiary.
The statement was made on Monday in the form of a meeting with Chung Gu Yoon, Enel Green Power's Head of Business Development, Asia-Pacific region. Chung disclosed that EGPVN had set the target to commission its very first utility-scale project by 2024.
The maiden project is a 160-MW solar PV system, which the business expects to be investment-ready over the following six to year.
Vietnam's electricity demand has been expanding along with the country's production sector, economy as well as middle class size. The nation has actually additionally been able to include over 22,000 MW of wind and also solar capacity since 2018, and also is anticipated to call for over 150,000 GW of renewables by 2045 to reach its net-zero target 5 years later on, Chung commented.
Vietnam has also begun unbundling its generation field, with strategies to more deregulate the circulation and also retail fields in the future. This may allow Enel Green Power's parent organisation Enel day spa (BIT: ENEL) to enter the marketplace with its various other business lines, Chung added.