Thai energy conglomerate Banpu Plc and industrial estate developer Amata Corporation have formed a joint venture to develop one of Vietnam’s largest rooftop solar power projects, supporting the country’s net-zero ambitions.

The joint venture, named Amata Esco Next LLC, has been established with a registered capital of 1.1 million baht. Banpu holds a 65% stake through its subsidiary Esco Next LLC, while Amata VN owns the remaining 35%.

Project Overview

The initiative will see the installation of 227 MW of rooftop solar systems across two of Amata’s key industrial parks in Vietnam:

• Amata City Ha Long (686 hectares)
• Amata City Long Thanh (410 hectares)

Construction is expected to begin in early 2025, although project investment costs have not yet been disclosed.

Vietnamese solar engineering company Solar BK has been appointed as the construction and maintenance partner for the project.

Driving Vietnam’s Clean Energy Transition

Banpu Next CEO Smittipon Srethapramote said the project is aligned with Vietnam’s Power Development Plan VIII (PDP VIII) and the country’s commitment to achieving net-zero emissions by 2050.

Under PDP VIII, Vietnam aims to source 47% of its total installed power capacity from renewable energy by 2030, while ensuring grid stability and reducing dependence on fossil fuels.

Industrial Parks to Become Green Manufacturing Hubs

According to Somhatai Panichewa, CEO of Amata VN, integrating renewable energy directly within industrial zones is a key step toward achieving the company’s 2040 carbon-neutral target.

She added that this initiative will enhance Amata’s appeal to global manufacturers, many of whom are prioritising sustainability, competitive energy costs, and low-carbon supply chains in their investment decisions.

Significance

• Marks a major cross-border renewable energy collaboration between Thailand and Vietnam.
• Supports Vietnam’s growing electricity demand and transitions industrial zones towards clean energy.
• Positions Amata’s industrial estates as green, future-ready manufacturing hubs.