Overseas Green Energy Expansion Achieves Success: ShinFox Energy Ventures into Vietnam
ShinFox Energy（6806) Expanding Overseas Green Energy Ventures Once Again! ShinFox recently signed an investment contract with Japan’s CHUGOKU Electric Power Company and a Vietnamese renewable energy developer (BBPH) to jointly invest in renewable energy power plants in Vietnam, with an initial capacity of over 200MW. ShinFox is fully committed to participating in the international green energy power layout and aims to become the best support for global overseas green energy supply for Taiwanese businesses.
Due to the influence of the northeastern monsoon, the construction period for offshore wind power projects in Taiwan is only six months. Engaging in maritime engineering projects requires internationalization. In order to expand the scale of the Taiwan offshore wind power market and seize the enormous business opportunities worth billions of dollars globally, ShinFox Energy partnered with a maritime engineering team from Singapore in 2020 to establish ‘Singapore Powerwei Maritime Engineering Company.’ After investing this year, Senwei obtained controlling rights and is investing billions to build an international fleet. In addition to nurturing young talents in Taiwan, they have recruited employees from multiple countries including Singapore, Germany, the Netherlands, Denmark, India, Malaysia, Vietnam, and Myanmar. Among local offshore wind power teams, they are the first to establish an international maritime engineering team and an international fleet, marking an important step towards the internationalization of Taiwan’s domestic wind power industry, and serving as a shining example of Taiwan on the international stage.
Mr. Hu Hui-Sen, the General Manager of Senwei Energy, stated that ‘renewable energy is a service industry, and service industries need to go global.’ To develop overseas renewable energy business, ShinFox Energy collaborates with international strategic partners to invest in overseas clean energy projects. Last year, they jointly ventured to develop the Fiji wind power renewable energy market in Oceania with Japan’s CHUGOKU Electric Power, thus exploring global renewable energy opportunities.
Recently, Senwei, CHUGOKU Electric Power of Japan, and a well-known Vietnamese developer (BBPH) jointly invested in a development project in Vietnam through a co-investment approach. Senwei Energy holds a 35% stake, CHUGOKU Electric Power holds 35%, and the Vietnamese developer holds 30%. The three parties signed an investment contract confirming the cooperation framework in Ho Chi Minh City, Vietnam, on September 29th. BBPH is a subsidiary of the Vietnamese BB Group, with nearly 1 GW of operational and management experience, possessing green energy technologies such as hydro, solar, and wind power.”
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