TOTALENERGIES ENEOS TO ACQUIRE SAO MAI SOLAR ROOFTOP PORTFOLIO AND SIGN MOU FOR FURTHER COOPERATION OPPORTUNITIES

Sao Mai Solar Company, a subsidiary of the Sao Mai Group in An Giang Province, signed a SPA (Share Purchase Agreement) with TotalEnergies ENEOS for the sale of its 3.4 megawatt-peak (MWp) rooftop solar photovoltaic (PV) system portfolio. The two parties also signed a Memorandum of Understanding (MOU) to develop further renewable together – starting by the development of additional rooftop solar PV system for Sao Mai Group’s production units.

The 3.4 MWp portfolio of rooftop solar PV projects have been installed on the roof of Asia Fish Oil (AFO) factory and IDI International Development and Investment Joint Stock Company factory located in Vam Cong Industrial Cluster, Binh Thanh Commune, Lap Vo District, Dong Thap Province. It currently generates 4.4 GWh of renewable energy each year, reducing more than 3,500 tons of CO2 emissions annually, equivalent to planting over 52,500 trees.

TotalEnergies is an international group specializing in the production and marketing of energy: oil and biofuels, natural gas and green gas, renewable energy, and electricity. Operating in more than 130 countries, TotalEnergies places sustainable development at the heart of all its projects and operations to contribute to a better life for everyone.

Sao Mai Group has a history of nearly 30 years of formation and development. The Group has a diversified and efficient ecosystem of activities ranging from production to business, associated with local sources of raw materials and potential, which are in these industries: Aquaculture & seafood processing for export; Aquatic feed production; Real estate; Processing of value-added consumer food products from pangasius, processing fish meal – fish fat; Tourism; Construction design and financial investment, labor export and especially green new energies.

Recognizing that renewable energy is a national strategic issue with great significance for the environment and climate, and is also an inevitable development trend of the world, Sao Mai Group is "accelerating" to formulate a strategy to bring revenue from solar power to exceed 1,000 billion VND/year in the coming time, contributing to increasing the total revenue for the entire Group from 15,000 billion VND to 17,000 billion VND/year.

Sao Mai Solar, a member of Sao Mai Group, was established in 2017 and is responsible for undertaking the "mission" of developing renewable energy for the Group. In addition to the 210 MWp An Hao Solar Power Plant in Tinh Bien District, An Giang Province, and the 50 MWp Europlast Solar Power Plant in Duc Hue District, Long An Province, the company has also implemented many rooftop solar projects for households and production businesses. After 6 years of operation, Sao Mai Solar has continuously innovated to develop, affirm its brand position in the solar market, and strengthen the trust of customers and partners.

With more than 600,000 photovoltaic (PV) panels installed from Sao Mai Solar’s projects, approximately 438,000 MWh of clean electricity is produced annually, significantly saving costs for investors and reducing carbon emissions by about 360,000 tons, equivalent to planting more than 1,215,000 trees per year. Sao Mai Solar is working every day to fulfill its mission of making Vietnam an environmentally friendly country.

At the signing ceremony, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia said, “We are very pleased not only with this new addition to our portfolio of solar projects in Vietnam, but also with the demonstration of a common willingness for a long-term partnership through the signed MOU. These highlight TotalEnergies ENEOS’ commitment to further grow its distributed generation activity in the APAC region and support more B2B customers in meeting their sustainable development goals.”

Ms. Lê Thị Nguyệt Thu, CEO of Sao Mai Solar, commented, “We are very happy to have a partner like TotalEnergies ENEOS because we share common goals, ideas, and long-term vision. Both sides have reached significant agreements to elevate our collaboration, with solar power being a key strategic focus. Sao Mai Solar always places trust and hope in larger and more practical investment projects, not only in renewable energy but also in other production and business sectors with TotalEnergies ENEOS.”