Eurus Energy Holdings Corporation (headquartered in Minato-ku, Tokyo) has established a subsidiary business entity in Hanoi, the capital of the Socialist Republic of Vietnam ("Vietnam"), as a base for new development and investment.
Background of the expansion into Vietnam
Demand for electricity in Vietnam is expected to continue increasing due to economic and population growth, and the country is promoting the construction and expansion of power plants to secure new power sources.
In particular, wind power generation is attracting attention in Vietnam as an alternative to thermal power generation using fossil fuels, as it is one of the countries in Southeast Asia with favorable wind conditions. Thus, the Vietnamese government has set high goals for wind power generation, such as introducing 17 GW of onshore capacity by 2030 and 39 GW by 2045.
Purpose of establishing the entity in Vietnam
Eurus Energy Group has established this subsidiary as the Group's first Southeast Asian base in Vietnam, recognizing the country as one of the regional markets in which expansion of the renewable energy market is expected, and in order to realize activities more closely tied to the region.
Now with a base in Vietnam, Eurus Energy Group will contribute to the stabilization of electricity supply and the development of a low-carbon society infrastructure in the country by leveraging our knowledge and experience in the renewable energy business.
