Sao Mai Group and aspiration to develop renewable energy
Vietnam, striving to thrive in a world witnessing severe climate change, has set a sustainable development goal, using renewable energy as the focus.
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| Sao Mai Group and aspiration to develop renewable energy. Aspiration to develop clean energy. |
Developing renewable energy: Realizing the dream
Grasping global trends, Sao Mai has built a detailed long-term vision plan for renewable energy development from now to 2050, promising to contribute significantly to the country's green development.
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| Sao Mai Group pays much attention to green economic development. |
With 16 member companies and a total asset value of more than 19,000 billion VND, Sao Mai Group affirms its position in multi-industry activities, from developing real estate projects, design - construction, renewable energy, tourism services, labor export, financial investment to export seafood, processing aquatic food, fishmeal, fish fat, refining 100% high-quality cooking oil from fish.
Many successfully - operated and ongoing projects have shown efforts to overcome ups and downs and determination towards comprehensive and sustainable development.
Ground solar power
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| Panoramic view of Sao Mai Solar Factory at the foot of Cam Mountain. |
Sao Mai has identified two development stages with the potential of 837,400MW of ground-mounted solar in Vietnam. The 2023-2030 period will deploy 1,043MW of ground-mounted solar power capacity. However, facing risks from ineffective policies during this period, businesses intend to focus on developing rooftop solar power, promoting self-consumption in 2030-2050, according to the National Power Production Project, with a planned total capacity of 168,594 - 189,294 MW.
Rooftop solar power - DPPA mechanism
With the ability to develop up to 48,200MW from rooftop solar, Sao Mai is aware of the opportunity in ESCO. Installing a 5 - 10 Kwp system is suitable for households, and larger capacities can be placed on office buildings, schools, and factories. Positive results are shown through calculations regarding saving monthly electricity costs and the ability to recover capital for business sectors and households.
Regarding the DPPA mechanism, separating the national dispatching unit A0 from EVN and becoming an independent company under the Ministry of Industry and Trade has opened up new opportunities for renewable energy development. Not only that, but the Group is also considering researching the demand for solar power from potential partners such as industrial clusters, office buildings, or state agencies, from which it will acquire other projects belonging to Plan 8, which is recommended to develop this mechanism.
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| Rooftop solar panels installed by Sao Mai Solar. |
Wind power and other sources (Green Ammonia, Hydrogen, Pumped Storage Hydropower): Establish a strong foundation
Sao Mai clearly shows its views on the orientation of developing offshore wind power or new energy sources after 2030 - the time when Vietnam begins to have the most favorable policies to access.
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| Opening a mechanism to welcome new potential, pumped storage hydropower - a piece of the puzzle of renewable energy. |
In the 2023-2030 period, with an approved total capacity of 14GW, the Group intends to build at least one factory to serve as the foundation for developing a comprehensive ecosystem up to 2050. At the same time, Wind power projects that have not yet been constructed and are on the list of transitional prices are an opportunity for the Group to implement at this time in the form of M&A.
Operations create future positions
The Group determines detailed development plans for each stage to increase total power capacity to 6,080.4MW by 2050. From 2023 to 2025, continue to focus on improving existing energy projects, initially building projects related to wind power, and expect the total investment capacity to reach 110.4MW. In the 2025-2030 period, the focus will shift to developing more onshore and nearshore wind power along with pumped storage hydropower (if feasible), and investment is expected to reach 1700MW.
Based on the development space plan of Power Plan 8, the Group chooses to develop in localities with the best conditions, in the Central Highl, such as Gia Lai, Dak Lak, or the Southern region, such as Soc Trang, Tra Vinh. By 2030-2050, aiming to consolidate the development of rooftop solar power, offshore wind power, and new energy sources, the capacity is expected to reach 4000MW. A total increase of more than 5800MWp, combined with existing factories, including An Hao 210MWp and Europlast Long An 50MWp, meets the requirements.
In the more extended vision, we are developing renewable energy projects and creating a green concert in unison with Vietnam's mission in environmental protection and sustainable development.
From successfully implementing ground and rooftop solar power plants to the dream of discovering new energy sources, Sao Mai affirms its commitment to a bustling and promising green future.
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