SP Group partners BCG Energy on solar project in Vietnam
A&G News 23 August 2021
Allen & Gledhill (Vietnam) advised SPI Energy Investments Pte Ltd, a member of the SP Group (“SP”), as transaction counsel, on a joint venture (“JV”) with BCG Energy, a wholly-owned subsidiary of Bamboo Capital Group, to invest in rooftop solar and other renewable energy projects in Vietnam.
The partnership is a key milestone for SP to grow its sustainability footprint in Vietnam. The JV will support Vietnam’s green ambitions to become a carbon-neutral economy and increase the ratio of electricity produced from renewable sources to 30% by 2030.
The JV sets out multiple phases of developments and an initial target of 500 MW of rooftop projects by 2025. As part of the first rooftop solar projects of the JV, the JV will work with Vinamilk, Vietnam’s largest dairy production company, to install a combined 25 MW of rooftop solar power across nine factories and seven farms.
Advising SP were Allen & Gledhill (Vietnam) Managing Partner Oh Hsiu-Hau, and Partners Tran Thi Phuong Thao and Jonathan Lin.