Japan-based Sojitz Corporation (Sojitz), Osaka Gas Company Limited (Osaka Gas) and Looop Incorporated (Looop) have formed a jointed venture (JV) to develop a rooftop solar power generation business to supply renewable energy (RE) to industrial and commercial customers in Vietnam. The project will be conducted in cooperation with the both the governments of Japan and Vietnam.

The JV will be called ‘SOL Energy Company Limited’ and will be based in Vietnam’s Dong Nai Province. Sojitz Osaka Gas Energy Company Limited (SOGEC), a JV between Sojitz and Osaka Gas, will own the majority stake in the JV with Looop owning the remaining 30 per cent stake. Initially, SOL Energy will install a rooftop solar power system with a total capacity exceeding 10 MW to serve clients at the Long Duc Industrial Park. The company will eventually expand to other regions in Vietnam in the future.