GELEX invests in cooperation with Singapore's leading corporation

Speaking with Vietnamnet, GELEX representative confirmed that GELEX agreed to cooperate in investment with Sembcorp - a leading provider of integrated energy and urban solutions based in Singapore.

GELEX's portfolio of operating energy projects includes wind, solar, and hydropower projects with a total capacity of approximately 245MW.

After this step, the parties will proceed with approval and related legal procedures to carry out the transaction.

*GELEX agrees to cooperate in investment with Sembcorp.*

Along with the above agreement, GELEX and Sembcorp plan to cooperate in developing new renewable energy projects, contributing to the energy transition and sustainable development in Vietnam.

A representative of GELEX Group said that by cooperating with Sembcorp, GELEX Group continues to realize its strategy of developing a partnership ecosystem with leading multinational corporations to expand the market and value chain for the Group's core business areas.

“GELEX expects that the combination of GELEX's domestic reputation and capacity with Sembcorp's management strengths and international experience will create great success, bringing benefits to both parties and contributing to Vietnam's economic development,” GELEX emphasized.

Sembcorp Industries is a Singapore-owned corporation established in 1998 that specializes in providing solutions for energy conversion and urban development globally. To date, Sembcorp has invested in many major markets around the world such as the UK, China, the Middle East, and India, but its investment activities are still mainly concentrated in Asia.

Since 1996, following a landmark agreement between the Prime Ministers of Vietnam and Singapore, Sembcorp Industries has been present in Vietnam, with joint ventures, cooperation, rapid development and expansion.

If successful, the above transaction with GELEX will increase the capacity of Sembcorp's renewable energy projects in Vietnam, including wind power, solar power and hydropower, to over 450MW.

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