Super Energy all charged up on Vietnamese renewables

13:00 | 12/07/2020 Cooperation

(VEN) - Thailand’s Super Energy Corporation has been available in Vietnam since 2017 with the lofty ambition of being a dominant player in the renewable sector.

super energy all charged up on vietnamese renewables
Super Energy’s Country Manager in Vietnam Supa Waisayarat

The Super Energy Corporation Public Co. Ltd. was established in 1994 and listed on the Stock Exchange of Thailand (SET) in 2005. The company had a market capitalization of about THB24 billion or US$770 million at the end of 2018.

The Super Energy Corporation (SEC) has been available in Vietnam since 2017, intending to conquer the renewable energy sector in the country and becoming the top producer in ASEAN.

Supa Waisayarat, Super Energy’s Country Manager in Vietnam, said they have obtained two renewable energy lines in Vietnam, including solar and wind power, and have invested more than US$102 million in the plants so far.

The corporation has six solar power projects in Vietnam, including Binh An (50 MW); Phan Lam (36.72 MW); Van Giao 1 (50 MW); Van Giao 2 (50 MW); Sinenergy (50 MW); and Thinh Long (50 MW), generating income of over US$35 million per year.

The corporation also has three wind power projects under construction and two under development with total capacity of 630 MWp, including Ca Mau (100 MW); Bac Lieu (141 MW); Soc Trang (30 MW); Gia Lai (50 MW); and Phu Yen (200 MW).

An ideal destination

Supa Waisayarat said that his company has seen Vietnam as an ideal destination for expanding the overseas market and increasing revenues.

He explained, “Firstly, the Vietnamese government is focusing on clean, green power and offering many attractive conditions for foreign investors, including permission to establish wholly foreign-owned companies in the renewable energy sector. We appreciate the openness, good offers, and support of the Vietnamese government for foreign businesses in this industry.

“Secondly, we can enjoy tax exemptions as well as many other interesting incentives from the government. Thirdly, we foresee a rising demand for power supply because Vietnam’s economy is booming.”

Waisayarat also said that Vietnam has an advantage in terms of young and talented population that is driving both creativity and economic growth. This is an added factor in realizing the company’s vision in the country, he said.

He noted that from just six to seven people when SEC Vietnam was established, we have more than 100 staff now, with the majority being engineers. Waisayarat said, “They are talented, diligent, and determined to grow together in completing our mission to be an excellent player in the market while benefiting our stakeholders and sustaining growth. I believe that the power of people will lead to all our successes.”

super energy all charged up on vietnamese renewables
Super Corporation presents Christmas gifts to children at the Nhi Dong 2 Hospital

Much room in a fertile sector

Waisayarat said there is much room for foreign players in Vietnam’s renewable energy market. In addition to Thai investors, businesses from other countries in Europe and the US are also looking at this fertile sector in Vietnam.

He said the company has set itself the target of reaching a production of one giga-watt by 2021. “To realize this ambitious strategy, SEC Vietnam will increase its investment. We are investing over US$457 million in three solar power plants, including Loc Ninh 1, Loc Ninh 2 and Loc Ninh 3 in Binh Phuoc Province. These projects with total capacity of 550 MW are under construction.”

He said the company has cooperated very well with EVN and other Vietnamese partners to ensure the projects’ smooth operations. “We will complete the target of becoming the leading renewable power producer in ASEAN,” he stressed.

Commitment to community

Waisayarat said the entire team at SEC, “from the leaders to every employee, is constantly aware of our responsibility to the local community, wherever we are.”

In two years that it has been in Vietnam, SEC has engaged in a lot of meaningful, practical activities “to express our gratitude to the host country”, including presenting television sets to the Border Defense Force to serve security work; supporting road improvement in the Mekong Delta’s An Giang Province; presenting Mid-Autumn Festival gifts to students in especially difficult circumstances; presenting Christmas and New Year gifts to children at the Nhi Dong 2 Hospital in 2019-2020; supporting students with scholarships; supporting schools in rural provinces with tables, chairs, sports tools and sports activities to schools in the rural provinces; and joining hands to fight against Covid-19 in Binh Thuan, Phu Yen, Bac Lieu and Soc Trang provinces.

super energy all charged up on vietnamese renewables
Solar power, one of the renewable energy projects that Super Energy will increase investment in Vietnam in the years to come

“More than ever, we are aware of the difficulties faced by many people during this challenging time of Covid-19. So, we are making real contributions to local communities to help them tide over this period. This is our long-term commitment to Vietnam.”

He also said, “Fortunately, our business has not been affected much by Covid-19, except that our foreign experts cannot come to Vietnam to implement new phases of our projects.”

He said that during the social distancing period, the company had all staff work from home and implemented all the requirements set out by the government.

“We are delighted that we are not only investing and doing business in Vietnam in the field of renewable energy, but we are also making a small contribution to meeting the growing demand for clean energy in general and solar energy in particular, consistent with the current green development trend of Vietnam, contributing to ensuring national energy security, protecting the environment and ensuring sustainable social development.”

Phung Khuu