Sembcorp Utilities and BCG Energy, a wholly-owned subsidiary of Bamboo Capital Group, have partnered to develop around 1.5 GW of renewable energy projects, including solar and wind projects, in Vietnam.
In the first phase, an investment of USD30 million will finance the construction of a 550 MW portfolio of utility-scale nearshore and onshore wind assets in the provinces of Ca Mau, Tra Vinh, and Soc Trang. The projects have been secured by BCG Energy and are scheduled to be operational by the end of 2022.
The signing of the agreement is not expected to have a significant impact on Sembcorp’s profits per share or net asset value per share for the fiscal year ending December 31, 2021.
