ON ENERGY: TRUSTED AGAIN WITH 50MWP EPC CONTRACT FOR KTG ENERGY AND SUNSEAP PROJECTS

04.03.2025

On August 21st, 2020, KTG Energy Joint Stock Company and Sunseap International Pte. Ltd. signed a Cooperation Agreement to invest in 50 MWp of rooftop solar power projects from 2020 to 2021. At the same time, they chose ON Energy Joint Stock Company as the EPC contractor for these projects. This is a new and important step forward in the long-term partnership between the three companies.

Strategic Investment in Rooftop Solar Systems

The signing ceremony was attended by key representatives: Mr. Mai Van Hieu, Deputy General Director of ON Energy; Mr. Phan Thanh Trung, Chief Operating Officer of KTG Energy; and from Sunseap, Mr. Phuan Ling Fong, Director, and Mr. Jeff Lim, Vice President of International Business Development, who joined online from Singapore. Mr. Pham Chuong Duong, Business Development Manager, represented Sunseap at the signing event in person. This event marks a significant milestone, highlighting the collaborative investment efforts of all three parties both in the past and for years to come.

According to the agreement, KTG Energy and Sunseap will work together to build and operate 50MWp of rooftop solar power projects across different provinces and cities in Vietnam. KTG Energy will be mainly responsible for developing the projects, and Sunseap will be a major shareholder. Importantly, ON Energy (one of the leading EPC solar power contractors in Vietnam) has been appointed as the EPC contractor for all of these projects.

Rooftop Solar Power – A Sustainable Investment

With its unique geography, climate, and weather, Vietnam has great solar radiation potential. It’s estimated that the technical potential for solar power development in Vietnam could reach up to 340,000 MWp.

In reality, Vietnam is currently facing an imbalance between electricity supply and demand. Forecasts predict that by 2021-2022, the country could face a shortage of about 1.2-1.6 billion kWh per year. The government is encouraging both businesses and individuals to develop renewable energy from solar power to help solve this electricity shortage issue.

Thanks to the government’s policies promoting renewable energy, many solar power projects have been developed and built. Among these, rooftop solar power is a very promising type with many advantages and strong potential for future growth. Benefits include: no need for land area; effective heat resistance for buildings; small scale and distributed installation, allowing connection to existing low and medium voltage grids without needing to invest in new transmission systems. Rooftop solar power is especially suitable for factories because they have large roof areas and high electricity usage.

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KTG Energy is a member company of the KTG Group and specializes in investing in and installing “Free” solar power systems for businesses. OnEnergy is a strategic partner of KTG Group, acting as an EPC company (providing turnkey construction and solar energy solutions) and a pioneer in deploying systems directly at the factories and plants of member companies. This allows them to gain real-world experience and understand the benefits that solar power systems bring to Vietnamese businesses.

Sunseap is one of the largest and most reputable founders in the solar energy industry in the region. This group has a portfolio of projects in Singapore, Australia, Vietnam, China, Taiwan, and Cambodia, supported by funding from the UK, Netherlands, Switzerland, Australia, and part of the PIDG (Private Infrastructure Development Group).

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