2024
Commencement of a Battery Energy Storage System Demonstration Project in Vietnam
Dec. 20, 2024
Marubeni Corporation
Marubeni Corporation, through its wholly-owned subsidiary Marubeni Green Power Vietnam Co., Ltd, has commenced a battery energy storage system (“the BESS”) demonstration project in the Socialist Republic of Vietnam (hereinafter, “Vietnam”). This project (hereinafter, “the Project”) is based on a Memorandum of Understanding* for a collaboration in the BESS sector in Vietnam, signed with a subsidiary of Vingroup Joint Stock Company (hereinafter, “Vingroup”), Vietnam’s largest private conglomerate.
Photo of the Ceremony
This Project involves Marubeni installing and operating the BESS at a resort facility owned by a Vingroup subsidiary, using a system developed and manufactured by VinFast Auto Ltd. (hereinafter, “VinFast”) under the VinFast Energy brand, another Vingroup relevant subsidiary. As the owner of the BESS, Marubeni will provide a service to reduce electricity costs by charging and discharging the batteries, taking advantage of time-of-use electricity rate differentials. This business model, which uses third-party investment in the BESS of this scale to reduce electricity costs, is one of the first of its kind in Vietnam. Marubeni aims to extend its BESS business by evaluating the economic viability of this service.
In its Mid-term Management Strategy “GC2024,” Marubeni has set forth the goal of pursuing green business and “greening” in all its business domains. Marubeni aims to further strengthen its strategic partnership with Vingroup while developing new power services in Vietnam. Through these efforts, Marubeni will contribute to a stable power supply for commercial and industrial consumers in the country.
* Related News Release:
May 18, 2022
Memorandum of Understanding with VinES for the Development of a Battery Energy Storage System Project in Vietnam
https://www.marubeni.com/en/news/2023/release/00055.html
Battery Energy Storage System Overview:
| Location: | Nha Trang, Khanh Hoa, Vietnam |
| Rated Output: | 1.8MW |
| Rated Capacity: | 3.7MWh |
| Battery Type: | Lithium-ion battery |
Marubeni Green Power Vietnam Co., Ltd Overview:
| Company Name: | Marubeni Green Power Vietnam Co., Ltd |
| Head Office: | Ho Chi Minh, Socialist Republic of Vietnam |
| Shareholder: | 100% owned by Marubeni Group |
| Establishment: | 2021 |
| Representative: | Hiroshi Ohishi |
| Main Business: | Supply of distributed renewable energy solutions to commercial and industrial customers |
Vingroup Overview:
| Company Name: | Vingroup Joint Stock Company |
| Head Office: | Hanoi, Socialist Republic of Vietnam |
| Shareholder: | Vietnam Investment Group JSC, Pham Nhat Vuong, VMI JSC, SK Investment Vina II Pte, Ltd. and others |
| Establishment: | 1993 |
| Representative: | Nguyen Viet Quang |
| Main Business: | Real estate, hospitality, retail, vehicle manufacturing, education, medical, services, others |
| Website: | https://vingroup.net/ |
Vin Fast Overview:
| Company Name: | Vin Fast Auto Ltd. |
| Head Office: | Hai Phong, Socialist Republic of Vietnam |
| Shareholder: | Vingroup and others |
| Establishment: | 2017 |
| Representative: | Le Thi Thu Thuy |
| Main Business: | Design and manufacture of electric vehicles (EV), e-scooters, e-buses and battery energy storage solutions. |
| Website: | https://vinfastauto.com/ |