Japanese wind power company Eurus Energy Holdings Corp said on Monday it has established a new business entity in Vietnam as the Southeast Asian country is expected to witness expansion in renewable energy.
The new subsidiary is based in the capital city of Hanoi and will operate under the name Eurus Energy Vietnam LLC. It will focus not only on the development and operation of wind power plants but on solar parks as well.
The new subsidiary is the Japanese group’s first base in Southeast Asia. The decision to establish a foothold in Vietnam comes against the background of increasing demand for electricity and the country’s potential and plans for wind energy deployment. The Vietnamese government plans to introduce 17 GW of onshore wind capacity by 2030 and 39 GW by 2045.