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VDSC Investment Banking Division advises Banpu NEXT on investment in SolarESCO

Viet Dragon Securities Corporation (“VDSC”) is pleased to announce that our client, Banpu NEXT Co., Ltd. (“Banpu NEXT”) - a leading smart clean energy solution provider in Asia Pacific - have completed the investment of 49.04% stakes in Solar ESCO Joint Stock Company (“Solar ESCO”), a leading renewable energy company and provider of integrated solar rooftop platform in Vietnam.

VDSC Investment Banking acted as the exclusive financial advisor to Banpu NEXT in the transaction.

SolarBK and Banpu NEXT ink an investment deal to escalate the potential of renewable energy in Vietnam

On August 24th, 2022, SolarBK Group and Banpu NEXT, a leading Smart Energy Solutions provider in Asia-Pacific, join force for the development and expansion of solar rooftop in Vietnam.

Accordingly, the representatives of the two sides to sign the contract are two member companies: SolarESCO Joint Stock Company and BRE Singapore Pte. Ltd ("BRES") - Banpu NEXT’s wholly-owned subsidiary acquires 49.04% shares from SolarESCO, becoming a strategic capital shareholder.

Mr. Sinon Vongkusolkit, Chief Executive Officer of Banpu NEXT, said "A flagship clean energy and energy technology business of BANPU, Banpu NEXT offers ‘total solution’ (one-stop service) of  smart clean energy solutions to customers across the Asia-Pacific. The company is driven under the Banpu Group’s Greener & Smarter strategy and is committed to enabling adoption of clean energy to create the future of sustainable energy. Realizing the potential of Vietnam, Banpu NEXT started expanding its clean energy business in the country in 2018. The Company has continued to invest in solar and wind power plants with a total capacity of 218 MW. Such a partnership with SolarBK Group, a leading renewable energy company, will strengthen our business in Vietnam. The company also continues the expansion of its regional portfolio including Thailand, China, Japan and Indonesia in order to enhance betterment of people’s lives with the goal of fostering Net-Zero society.”

SolarBK Group - the leading solar power company in Vietnam, specializes in investing and providing a full-pledged solar power platform, covering research, production, design - construction, EPC and O&M. SolarESCO the member company with extensive experience and advantages from SolarBK Group’s ecosystem has made its mark when cooperating with Vincom Retails for a chain of 50 solar power systems in commercial centers across the country, a total of capacity of 14 MW; 5-star standard manufacturing/processing factories of Adidas, Puma, New Balance, H&M brands, such as: Tong Hong tanery, Oasis, Jim Brothers, Shimmer,... As of the first quarter of 2022, SolarBK Group has supplied to the market about 250 MWp.

This cooperation aims to capture 25% market share of rooftop solar power in Vietnam, of which, at least, 106 MW will be invested and deployed within 18 months. In addition, the two sides also continued to exchange in the direction of further cooperation to bring SolarBK's solutions and products to the international market. In the long term, both sides share a common vision towards an energy platform where smart and energy-saving solutions are connected.

Mr. Nguyễn Dương Tuấn, Chief Executive Officer of SolarBK group said “We are delighted to accompany Banpu NEXT. The two sides share the same vision, values, and industry understanding; That's what we prioritize when deciding to cooperate. For customers, our point of view when implementing any solar power project is that quality comes with commitment and long-term companionship. We do not view solar systems merely trading or investing for short-term transfer. Banpu NEXT's expertise and experience in energy technology business ensure that the investment decision is solid and will help speed up the project implementation; combined with the foundation developed by SolarBK over the past 16 years, we confidently accompany customers throughout the project life cycle.”.

In the context that Vietnam is waiting for the approval of the Power Development Plan VIII, renewable energy in general and rooftop solar power still attract the attention of many parties, because this is one of the priority areas in the commitment by the Prime Minister at COP26. Domestic and FDI enterprises, especially the manufacturing sector, have implemented many plans toward sustainable development, in which the application of renewable energy has become an indispensable factor./.

 

About SolarESCO and SolarBK Group 

SolarESCO is a company in the SolarBK Group ecosystem. SolarESCO was established in 2012, being the first enterprise to successfully deploy the ESCO model in Vietnam. 

SolarBK - Bach Khoa Investment and Development of Solar Energy Corporation is the leading solar power company in Vietnam, specializes in investing and providing a full-pledged solar power platform, covering research, production, design - construction, EPC and O&M. Our vision is to connect the community through green and smart energy. SolarBK was established in 2006, up to now, after 16 years of presence in Vietnam, SolarBK has contributed values ​​to the solar energy industry through typical activities and projects: Lighting project on Truong Sa archipelago (8 MW), built and owned “100% Made in Vietnam” photovoltaic panel and solar equipment factory (IREX factory, Ba Ria - Vung Tau), is the first one to provide the solar system monitoring and control technology in Vietnam (SSOC, 2016)… SolarBK group's products and solutions meet export standards to demanding markets such as the US, Europe, Turkey, and New Zealand. With the orientation to become a utilities provider from clean energy and smart energy saving, besides the established vertical value chain, SolarBK always strives to diversify cooperation to strengthen in domestic market and seeking more opportunies in international markets, providing customers with smart, saving and sustainable energy solution. 

For more information, visit www.solarbk.vn, www.facebook.com/solarbk, www.linkedin.com/company/solarbk, www.youtube.com/channel/solarbk

About Banpu NEXT 

Banpu NEXT Co., Ltd., a subsidiary of Banpu PCL., is a leading “Smart Energy Solutions” provider in Asia-Pacific with a vision of “Innovating Infinite Energy Solutions to All”. The company aims to create business growth by responding to future energy trends and smart city development and living needs of modern-day consumers. With customers in mind, Banpu NEXT combine customer-centric, data-driven approach with our expertise in clean energy, technology, and hardware to top up our solution development, resulting in “Smart Energy Solutions for Sustainability”. Comprising of Smart Data Analytics & Energy Management, Smart Energy Generation, Smart Energy Storage, Smart Energy Utilization, and Smart Circular Economy, these solutions drive growth across our five business groups—Renewable Energy Generation, Energy Storage, Energy Trading, e-Mobility, and Smart Energy Management—as we provide end-to-end solutions with great value for money, reliability, and eco-friendliness to support sustainable development of all businesses. 

For more information, visit www.banpunext.co.th, www.facebook.com/banpunext, www.linkedin.com/company/banpu-next-company-limited/

 

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