(BCG) On October 28th 2019, Bamboo Capital Group (BCG) signed a cooperation agreement with Japan Asia Investment Co., Ltd. (JAIC), whereby JAIC will invest USD 5 million for rooftop solar projects of Nong Thon Viet Energy, a member company of BCG.

According to the latest draft proposed by the Ministry of Industry and Trade, the rooftop solar electricity price will remain at the preferential rate of 9.35 cents/kWh, while the floating solar and ground solar electricity prices will be sharply reduced.. This is considered a big driver for the growth momentum of the rooftop solar industry in Vietnam.

Nong Thon Viet Energy – focus on developing rooftop solar power in large-scale factories and industrial parks. In the first year of cooperation with JAIC, Nong Thon Viet Energy commits to complete the implementation of projects with a total capacity of 10MWp at cassava starch plant, livestock farm, mineral mine and heavy industry factories in Tay Ninh, Long An and Quang Nam. The application of solar panel system to produce electricity will help businesses significantly reduce electricity costs and reduce the pressure on electricity supply for the electricity industry, especially in the hot season.

In the spirit of cooperation on the basis of mutual benefit, after a period of negotiation, JAIC and Nong Thon Viet Energy agreed on all terms and conditions to become strategic partners of each other. The two sides believe that this strategic cooperation agreement will promote the relationship between the two sides, enhance the reputation of Nong Thon Viet Energy as well as JAIC in the market. Furthermore, it helps create momentum for Nong Thon Viet Energy to expand the network with Japanese partners in the near future.

The participation of strategic partners will contribute to promoting the growth of Bamboo Capital Group in many aspects, improving the potentials, strength and reputation in the domestic market as well as the international market.

More information about JAIC:

Japan Asia Investment Corporate (JAIC) is a Japanese company that has been operating since 1981. Since its establishment, JAIC has constantly developed and challenged itself to achieve the goal of delivering to customers comprehensive investment services. As a big name with extensive experience in the field of investment, JAIC services offer a wide range of services including venture capital, investment fund management, advisory services, financial services. As part of the established JAIC global network, JAIC’s Vietnam representative office is opened and located in Ho Chi Minh City.

Source: BCG