Leading Philippine energy group wants to invest in Vietnam’s electricity industry

KN Holdings signed a cooperation agreement with Samsung C&T to deploy three floating solar power projects with a total expected capacity of 864 MW, providing clean electricity to large consumers. The memorandum of understanding (MOU) signing ceremony was part of the State visit to Korea on August 12 in Seoul. The Vietnam – Korea Economic Forum was organized by the Vietnamese Ministry of Finance in coordination with the Korean Ministry of Trade, Industry and Energy (MOTIE), the Korean Chamber of Commerce and Industry (KCCI) and the Vietnamese Embassy in Korea, with the theme “Cooperation to develop production chains in the new era”. Ms. Le Nu Thuy Duong, Vice President of KN Holdings, and Mr. Heo Wook, Vice President of Global Investment, Samsung C&T (second from left) signed the cooperation agreement. Photo: KN Holdings Ms. Le Nu Thuy Duong, Vice President of KN Holdings and Mr. Heo Wook, Vice President of Global Investment, Samsung C&T (second from left) signed a cooperation agreement. Photo: KN Holdings According to the agreement, KN Holdings Group and Samsung C&T Company will jointly implement three floating solar power projects at the hydropower reservoirs of KN Srepok 3, KN Ialy Gia Lai, and KN Ialy Kon Tum. The projects apply the direct power purchase agreement (DPPA) mechanism, prioritizing the supply of clean electricity to large consumers. The project helps reduce greenhouse gas emissions, promote the use of renewable energy, and contribute to the implementation of Vietnam’s green energy transition goal. A representative of KN Holdings said that Samsung C&T (a member company of Samsung Group) is an enterprise with experience in implementing many large-capacity renewable energy projects globally. The two sides will coordinate to implement KN Holdings’ floating solar power projects, applying modern technology to optimize investment and operation efficiency, creating clean energy sources. The MOU awarding ceremony at the Vietnam – Korea Economic Forum, a high-level event co-chaired by the leaders of the two countries, marked a step forward in KN Holdings’ clean energy development strategy. “The event demonstrates the new energy cooperation orientation between Vietnam and Korea, in line with the commitments on emission reduction and green economic development of both countries,” said the business representative. General Secretary To Lam and South Korean Prime Minister Kim Min Seok witnessed the businesses signing cooperation agreements. Photo: KN Holdings General Secretary To Lam and South Korean Prime Minister Kim Min Seok witnessed the businesses signing cooperation agreements. Photo: KN Holdings This forum was attended by General Secretary To Lam, South Korean Prime Minister Kim Min Seok, and senior leaders of the two countries. More than 400 leading enterprises and over 500 delegates from Vietnam and Korea also attended. Hoang Dan