Sojitz Corporation, Osaka Gas, Looop Partner for Rooftop Solar in Vietnam

• The partnership, SOL Energy, will begin operations of a roof solar power generation organization geared towards commercial and also industrial clients in Vietnam.

SOL Energy's solar power organization will certainly utilize financial support from the Ministry of the Environment of Japan's Financing Programme for JCM Model Projects in FY2021, as well as this project will certainly be performed together with the Vietnamese and also Japanese governments.

Sojitz Osaka Gas Energy Company Ltd. ("SOGEC"), a joint venture company in between Sojitz Corporation ("Sojitz") as well as Osaka Gas Co., Ltd. ("Osaka Gas"), has partnered with Looop Inc. ("Looop") to establish a new joint venture company SOL Energy Company Limited ("SOL Energy") since October 21. Progressing, SOL Energy will begin operations of a rooftop solar energy generation business geared in the direction of commercial and also commercial consumers in Vietnam.

SOL Energy's solar power company will certainly make use of financial support from the Ministry of the Environment of Japan's Financing Programme for JCM Model Projects in FY2021, and also this project will certainly be conducted in cooperation with the Vietnamese and also Japanese governments.

SOL Energy plans to install roof photovoltaic panels that can offer over 10MW of solar energy to customers at the Sojitz-operated Long Duc Industrial Park in southerly Vietnam's Dong Nai Province. Setup of photovoltaic panels is expected to decrease CO2 emissions for Long Duc Industrial Park as a whole by around 5,800 heaps every year.

In addition to supplying clients with solar energy over the long-term, SOL Energy will certainly make use of the excess power to provide the industrial park's operating companies. In doing so, SOL Energy will certainly add to usage of renewable energy as well as decarbonization at the Long Duc Industrial Park. The company likewise plans to broaden its solar organization beyond Long Duc Industrial Park.

In July 2020, Vietnam modified its greenhouse gas mitigation targets, raising its commitment to a 27% reduction of GHG emissions to be realized by 2030 with worldwide support, which includes Joint Credit Mechanism projects. Sojitz, Daigas Group (an Osaka Gas group brand), SOGEC, and Looop will proactively promote the spread of renewable energy through SOL Energy's rooftop solar energy generation company, thus adding to Vietnam's sustainable advancement and the awareness of a low-carbon culture.

Looop Inc. uses solar power system advancement, sale, building and construction, monitoring, and maintenance services. The Company sells solar power equipments and also associated items. Looop also gives insurance policy agency services.