According to information from the British Embassy in Hanoi , the British International Investment Corporation (BII) and Idemitsu Kosan (IKC), one of Japan's leading energy companies, have announced a joint investment in Skye Renewables Energy (Skye) to support the development of solar power projects and decarbonization in Southeast Asia, including Vietnam.
The investment from BII and IKC will help Singapore-based Skye scale up its solar power production capacity to over 300MW in the coming years. The solar projects are expected to help reduce 270,000 tonnes of CO2 per year, equivalent to the emissions of more than 47,000 households using electricity for a year.
British Ambassador to Vietnam Iain Frew said: “The UK is committed to supporting Vietnam in its green and just energy transition. We are delighted that BII is reaffirming its commitment to combating climate change and building a more sustainable Southeast Asia. By harnessing the power of renewable energy, we will not only reduce carbon emissions but also create economic growth and jobs in Vietnam.”
Established in 1940, Idemitsu Kosan operates through 67 businesses worldwide in the areas of fuel oils, petrochemicals, lubricants, electronic materials, electric power and renewable energy, oil and gas and coal development. Meanwhile, Skye provides solar energy services, operating in the Philippines, Vietnam, Singapore and Malaysia.
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