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Carbon neutrality
SK GROUP TO STEP UP RENEWABLE ENERGY PUSH IN VIETNAM
SK E&S IS BUILDING ADDITIONAL ONSHORE WIND FARMS IN VIETNAM, WHERE SKC IS
CONSTRUCTING A WASTE RECYCLING PLANT
By Hyung-Kyu Kim Oct 30, 2023 (Gmt+09:00)
2 Min read
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SKC plans world’s largest biodegradable plant in Vietnam
SK E&S opens representative office in Vietnam
SKC mulls investment in materials in Haiphong, Vietnam
SK E&S opened a renewable energy business office in Ho Chi Minh City in July,
2023
SK Group will strengthen its partnership with the Vietnamese government to boost
eco-friendly business in areas ranging from carbon capture to waste recycling
and solar and wind farms, said group Chairman Chey Tae-won.
The second-largest conglomerate in South Korea has pioneered Vietnam’s
fast-growing renewable energy market, operating solar farms and onshore wind
plants in their commitment to net zero emissions by 2050.
“We will support Vietnam's clean energy transition and collaborate in achieving
carbon neutrality by utilizing cutting-edge technologies such as carbon capture,
utilization and storage (CCUS), small nuclear reactors and energy solutions,”
Chey said in a meeting with Vietnamese Prime Minister Pham Minh Chinh on Oct.
28,
“Our goal is to build an eco-friendly ecosystem throughout the entire process
from production to consumption in partnerships with local governments.”
CCUS is a technical process of capturing carbon dioxide from emissions for
industrial production, converting it into value-added products, or sequestering
and storing it permanently or semi-permanently.
SK Oceanplant signs a memorandum of understanding with Vietnam's BaSon & SREC
consortium for an offshore wind power project on Oct. 27, 2023
Vietnam has been the gateway for SK Group’s expansion in Southeast Asia for
almost three decades since Chey’s father and late former Chairman Chey Jong-hyun
started an oil development project there in the 1990s.
The country is an optimal location for solar and wind power generation thanks to
its ample sunlight and winds blowing from the long north to the south coast
throughout the year.
It aims to expand the proportion of solar and wind power of total power supply
to 61% (254GW) by 2045, compared with 27% (21GW) in 2021.
Prime Minister of Vietnam Pham Minh Chinh (left), SK Group Chairman Chey Tae-won
SK E&C
SK E&S, an LNG power generator, is leading the parent group’s clean energy
projects in Vietnam.
It has been operating a solar farm with a power generation capacity of 131
megawatts (MW) in Ninh Thuan, southern Vietnam, since 2020.
It is also generating power for commercial use in Tien Giang, western Vietnam.
Its capacity has jumped by five-fold to 100MW in 2023, versus 50MW in 2021.
Early this year, SK E&C set up a joint venture, Solwind Energy, with Gia Lai
Electricity, a subsidiary of Vietnam’s leading renewable energy group TTC. The
JV is working on a solar energy project in Tay Ninh, southeast of Vietnam, to
build rooftop panels.
Near the border with Laos, the JV is also building a 756MW onshore wind power
plant.
SK Group Chairman Chey Tae-won on Oct. 28
SKC Ltd., a chemical products manufacturer, is constructing a biodegradable
material production facility there.
SK Ecoplant Co., a construction engineering company, is exploring business
opportunities in Vietnam in areas of waste disposal and waste battery recycling
projects in a partnership with local companies.
In the meeting with Vietnam's prime minister, Chey was accompanied by Cho
Dae-sik, chairman of SK Supex Council, the group’s top decision-making body;
Choo Hyeongwook, chief executive of SK E&S; Park Kyung-il, CEO of SK Ecoplant;
Park Woncheol, CEO Of SKC.
Write to Hyung-Kyu Kim at khk@hankyung.com
Yeonhee Kim edited this article.
#SKGroup #CheyTaeWon #Vietnam #carboncapture #solarenergy #SKC #SKEcoplant #SKES
#carbonneutrality #PhamMinhChinh #SKOceanplant
More to Read
* Chemical Industry
SKC plans world’s largest biodegradable plant in Vietnam
Sep 25, 2023 (Gmt+09:00)
1 Min read
* Energy
SK E&S opens representative office in Vietnam
Jul 24, 2023 (Gmt+09:00)
1 Min read
* Corporate investment
SKC mulls investment in materials in Haiphong, Vietnam
Jun 12, 2023 (Gmt+09:00)
1 Min read
* Corporate restructuring
SK may sell assets in Vietnam, Malaysia to raise billions of dollars
Dec 25, 2022 (Gmt+09:00)
2 Min read
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