SP Group (SP) and Boston Consulting Group (BCG) Energy have signed a memorandum of understanding (MoU) to invest in renewable energy projects in Vietnam. Under the terms of the MOU, SP will acquire 49 per cent stake in Skylar Joint Stock Company (Skylar), a BCG Energy subsidiary. Both the companies will collectively pursue opportunities to invest in solar power projects to expand Vietnam’s electricity supply capability, as well as support the target of increasing the share of renewable energy in the country’s electricity to about 30 per cent by 2030.
Skylar currently operates 61.1 MWp of rooftop solar assets in 14 Vietnamese provinces.