On the afternoon of January 16^th, 2020, at the office of Saigon Telecommunication & Technologies Corporation (SAIGONTEL), SAIGONTEL and SKYX SOLAR (a subsidiary company of VinaCapital Group) held the signing ceremony for the Memorandum of Understanding to establish an asset holding company with the attendance of representatives of the Board of Directors and the leaders of two companies. This will be the exclusive company of SAIGONTEL and SKYX SOLAR for the development and construction of rooftop solar power in Industrial Parks which are owned, managed or cooperated by SAIGONTEL and affiliated partners.

Mrs. Nguyen Cam Phuong - General Director of SAIGONTEL and Mr. Brook Colin Taylor - Director of SKYX SOLAR signed the Memorandum of Understanding.

Under this agreement, SKYX SOLAR is responsible for technical evaluation, design, and management operating systems.  SAIGONTEL is in charge of project development in industrial zones which are owned, managed or cooperated by SAIGONTEL and affiliated partners. It is estimated that the company will build rooftop solar power systems with a total capacity of more than 100MWp in the upcoming years, starting with the total capacity of 50MWp by the end of 2021.

Last year, our country’s solar power output rose to 400 times, from 10 Mwac to 4 Gwac, equivalent to 4-fold growth rate. The data of the Electricity of Vietnam (EVN) showed that the whole country had 82 solar power projects with a total capacity of 4,460 MW on the national grid, accounting for 10% of total electricity output of the country.