Central Retail in Vietnam , the leading multi-format retailer in Vietnam, selects Norsk Solar Vietnam to enter into a long-term energy offtake agreement. Norsk Solar Vietnam will be providing, at no cost to its Client, one of the largest single-client rooftop solar PV systems in Viet Nam with a capacity of over 11 MW.

Ho Chi Minh City, 4th March 2021 – Norsk Solar, a leading and fast-growing global commercial and industrial (C&I) solar PV developer across emerging markets enters into a long-term agreement with Central Retail’s Viet Nam operations for over 11 MW solar PV project. Norsk Solar, which across the Indochina region operates with its long-term local partner Indochina Energy Partners Pte. Ltd. will provide the complete turnkey solution and guarantee the performance of the solar PV system throughout the lifetime of the agreement through their local SPV, Norsk Solar (Vietnam) Co. Ltd. .

This project will help Central Retail in Vietnam and its retail system operations with their sustainability agenda by generating over 300,000 MWh of clean electricity over the lifetime of the project; equivalent to offsetting in excess of 120,000 tonnes of CO2 emissions over the system lifetime. With the switch to solar power, Central Retail in Vietnam will enjoy the benefits of a cleaner and cheaper source of electricity to power its retail channels at zero upfront capital investment. This contributes to Viet Nam’s ambitious target to increase its share of renewables in the national energy mix and will provide local employment during the construction and operation phase of the solar plants.

“Businesses with a focus on environmental and social impact can really make a difference by adding new renewable energy that matches their electricity consumption. This is exactly what Central Retail does in Viet Nam, by using their rooftops to install solar power plants that are built, owned, and operated by Norsk Solar”, says Mr. Øyvind L. Vesterdal, Norsk Solar co-founder and CEO.

Thomas Jakobsen, Managing Director of Indochina Energy Partners stated that with the backing of very strong stakeholders the Norsk Solar (Vietnam) platform is well positioned to provide solar PV solutions in Vietnam, and in the Indochina region.

About Central Retail (www.centralretail.com)
Central Retail is the leading multi-format, multi-category retailing platform in Thailand, Vietnam and Italy. Central Retail in Vietnam was established in 2012 and after 9 years it has become one of the largest multi-format foreign retailers in Vietnam with 230+ stores, 37 malls across the country. Our 3 main segments including Food, Non-Food and Property proudly serve 175,000 customers/day with a diverse portfolio of retail brands, including GO! Mall, GO! Hypermarket, Tops Market, Big C, go!, Lan Chi Mart, Nguyen Kim, Supersports, LookKool, Kubo, Hello Beauty, and Robins

About Norsk Solar (www.norsksolar.com)
Norsk Solar AS, established in 2017, has positioned itself as the largest Norwegian privately held solar developer in Norway. Norsk Solar is part of Valinor AS, one of Norway’s leading renewable energy companies, the two companies have together commissioned over 900 MW. Our ambition is to develop, finance, build, own and operate renewable energy assets worldwide, with a focus on emerging markets – where we can make the biggest impact, in particular supporting corporate offtakers in their energy needs. Norsk Solar is headquartered in Norway, and its global reach is supported by its offices in Nicaragua, Brazil, South Africa, Vietnam, and Ukraine.

About Indochina Energy Partners (www.indochina-ep.com)
Indochina Energy Partners is a solar power producer, investor and developer active in Southeast Asia with focus on rooftop solar and direct power purchase agreement with Commercial and Industrial customers.

Norsk Solar helps corporations to meet their sustainability goals, offering them a unique combination of:

  • Nordic values in the way we do business
  • Win-win business strategy ensuring long-term partnerships
  • Best-in-class equipment and long-term plant performance standards to secure safety and quality
  • A global presence across emerging markets to support multy-country rollouts
  • Experienced local teams in all markets to ensure delivery and continued performance

Read Press release in Vietnamese here.