The signing ceremony of the Memorandum of Understanding (MoU) took place during the State visit to South Korea on August 12 in Seoul. The Vietnam-Korea Economic Forum was organized by the Ministry of Finance of Vietnam in collaboration with the Ministry of Trade, Industry and Energy of Korea (MOTIE), the Korea Chamber of Commerce and Industry (KCCI), and the Embassy of Vietnam in Korea, under the theme “Production Chain Cooperation 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. Source: KN Holdings
According to the agreement, KN Holdings and Samsung C&T will jointly develop three floating solar power projects at the KN Srepok 3, KN Ialy Gia Lai, and KN Ialy Kon Tum hydropower reservoirs. The projects will utilize a direct power purchase agreement (DPPA) mechanism, prioritizing the supply of clean energy to large consumers. The projects aim to reduce greenhouse gas emissions, promote renewable energy use, and contribute to Vietnam’s green energy transition goals.
A representative from KN Holdings shared that Samsung C&T, a subsidiary of the Samsung Group, has extensive experience in developing large-scale renewable energy projects globally. The two parties will collaborate on KN Holdings’ floating solar projects, employing advanced technologies to optimize investment and operational efficiency and generate clean energy.
The MoU signing at the Vietnam-Korea Economic Forum, a high-level event chaired by the leaders of both countries, marked a significant step forward in KN Holdings’ clean energy development strategy.
“This event demonstrates the new orientation of energy cooperation between Vietnam and Korea, aligning with the commitments made by both nations to reduce emissions and promote green economic development,” the company representative added.
General Secretary To Lam and South Korean Prime Minister Kim Min Seok witnessed the signing of cooperation agreements between businesses. Source: KN Holdings
The forum was attended by General Secretary To Lam, South Korean Prime Minister Kim Min Seok, and high-ranking leaders from both countries. Over 400 leading businesses and 500 delegates from Vietnam and South Korea also participated in this significant event.
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