On December 20, 2019, the signing ceremony of the Joint Venture between Sharp Energy Solutions Corporation (Japan) and NSN Construction & Engineering Joint Stock Company (Vietnam) took place.
Decision 11/QD-TTg, launched in April 2017, caught up with the trend in renewable energy towards sustainable development in economics. The potential of a high level of solar radiation and the electricity feed-in tariffs (FIT) price encouraged solar power development. In just over 2 years, a series of solar power projects connected to the transmission system, especially in hot areas with high solar radiation, has led to the development consequences beyond the planning, many power plants have to reduce electricity generation from 10% to over 50% of electricity generation capacity, greatly affecting investors’ financial problems.
According to the notice No. 402 / TB-VPCP / 2019, the Prime Minister decided to shift the FIT price of solar power projects to auctions, posing a new challenge for investors, requiring technology and comprehensive solutions.
Besides, rooftop solar power projects do not exert pressure on transmission lines or require separate areas for installation. Therefore, rooftop solar power is still a priority for development in renewable energy development policies with a stable FIT price, which is also a long-term investment trend in the coming years.
Facing the opportunities and challenges of the market, with the successful cooperation experience in two solar power projects TTC Phong Dien and TTC Ham Phu 2, NSN has agreed to sign a cooperation agreement to establish SNES (Sharp NSN Energy Solutions Construction and Engineering Joint Stock Company between Sharp Energy Solutions Corporation Joint Stock Company) to optimize the strengths of each party, maximizing the resources to bring optimal technical and financial solutions for customers.
Sharp Energy Solutions Corporation is a member of the Sharp Group, has more than 60 years of operation in the field of solar power and is a reputable global manufacturer of solar batteries. Sharp is also the EPC contractor for solar power projects with proven technical solutions, ensuring sustainable output performance for the system for up to 25 years.
NSN Construction and Engineering Joint Stock Company is a Vietnamese contractor with more than 16 years of experience operating in 4 countries: Vietnam, Cambodia, Myanmar, and the Philippines, providing international quality construction services to numerous people, domestic and foreign customers, especially Japanese and European and American FDI enterprises. Being proud of Vietnamese hands and minds, NSN also marked a landmark on Vietnam’s renewable energy map when successfully building the first solar power plant with Sharp in Vietnam, connected to the 110kV grid – the TTC Phong Dien 48MWp solar power plant.
The establishment of the SNES joint venture is the result of a thorough study of technical capabilities, construction, corporate culture to find out the strategy and direction of both companies after more than 02 years of cooperation. The SNES joint venture will inherit Sharp’s international technology, technical capacity, and NSN’s resources and experience in Vietnam, which is expected to blow a new breeze on optimal technical solutions for solar power plants and rooftop solar power.
