Shizuoka Gas said that it has acquired a 25% stake in My Son-Hoan Loc Viet Solar Energy JSC (MSHLV), marking its first venture in Vietnam's renewable energy sector.
Through this deal, Shizuoka Gas joins local partner Hoan Loc Viet Joint Stock Company (HLV), which holds a 60% stake, in managing the My Son solar plant in Ninh Thuan Province.
The My Son facility, a 50 MW solar power plant, has been operational since 2019 and is projected to generate around 78 million kWh in 2024. This output is roughly equivalent to the annual electricity consumption of 40,000 households in Vietnam.
Shizuoka Gas said the investment is in line with its commitment to support sustainable growth in Vietnam, which aims to double its national power capacity by 2030 and increase renewable energy contributions by 29% by 2045.
