TotalEnergies ENEOS to Acquire Sao Mai Solar Rooftop Portfolio and Sign MOU for Further Cooperation Opportunities

Ho Chi Minh City, Vietnam, June 5, 2023 – Sao Mai Solar Company, a subsidiary of the Sao Mai Group in An Giang Province, signed a SPA (Share Purchase Agreement) with TotalEnergies ENEOS for the sale of its 3.4 megawatt-peak (MWp) rooftop solar photovoltaic (PV) system portfolio. The two parties also signed a Memorandum of Understanding (MOU) to develop further renewable together – starting by the development of additional rooftop solar PV system for Sao Mai Group’s production units.

The 3.4 MWp portfolio of rooftop solar PV projects have been installed on the roof of Asia Fish Oil (AFO) factory and IDI International Development and Investment Joint Stock Company factory located in Vam Cong Industrial Cluster, Binh Thanh Commune, Lap Vo District, Dong Thap Province. It currently generates 4.4 GWh of renewable energy each year, reducing more than 3,500 tons of CO2 emissions annually, equivalent to planting over 52,500 trees.

TotalEnergies ENEOS, as a leading provider of solar solutions in the region, will leverage its international technical expertise and operate this portfolio efficiently to serve its B2B customers.

Elodie Renaud, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia said, “We are very pleased not only with this new addition to our portfolio of solar projects in Vietnam, but also with the demonstration of a common willingness for a long-term partnership through the signed MOU. These highlight TotalEnergies ENEOS’ commitment to further grow its distributed generation activity in the APAC region and support more B2B customers in meeting their sustainable development goals.”

To learn more about TotalEnergies ENEOS tailored solar solutions, check out our free brochure, or contact us directly for more information.


About TotalEnergies ENEOS Renewables Distributed Generation Asia Pte. Ltd.

The company is a 50/50 joint venture between TotalEnergies and ENEOS to develop onsite B2B solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2 GW of decentralized solar capacity over the next five years.

TotalEnergies and renewables electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end of 2022, TotalEnergies’ gross renewable electricity generation installed capacity was 17 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world’s top 5 producers of electricity from wind and solar energy.

ENEOS Corporation and renewables electricity

ENEOS operates over 20 solar power plants in Japan and are also participating in renewable energy projects in the United States, Australia, and Vietnam. Furthermore, ENEOS is actively engaged in power generation projects using biomass, hydroelectric power, wind power, etc. This joint venture is ENEOS’ first overseas renewable energy project using distributed power sources.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

About ENEOS Corporation

ENEOS Group has developed businesses in the energy and nonferrous metals segments, from upstream to downstream. The Group’s envisioned goals for 2040 are: becoming one of the most prominent and internationally competitive energy and materials company groups in Asia, creating value by transforming our current business structure, and contributing to the development of a low-carbon, recycling-oriented society with the pursuit of carbon-neutral status in its own CO2 emissions. ENEOS Corporation, one of the principal operating companies in the Group, is contributing to achievement of the Group’s envisioned goals through a broad range of energy businesses.

TotalEnergies ENEOS Contacts

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About Sao Mai Solar Company
Sao Mai Solar Company is a subsidiary of Sao Mai Group established in 2017, invested in An Hao Solar Power Plant, with a design capacity of 210 MWp, located in Tinh Bien district, An Giang province and Europlast 50 MWp solar power plant in Duc Hue district, Long An province. In addition, the company also implements many rooftop solar projects for households, production and business facilities in order to fulfill the mission of transforming Vietnam into an environment-friendly country. After 6 years of operation, Sao Mai Solar constantly innovates to develop, affirms its brand position in the solar market, strengthens the trust of customers and partners.

About Sao Mai Group
Sao Mai Group has a history of nearly 30 years of formation and development. The Group has a diversified and efficient ecosystem of activities ranging from production to business, associated with local sources of raw materials and potential, which are in these industries: Aquaculture & seafood processing for export; Aquatic feed production; Real estate; Processing of value-added consumer food products from pangasius, processing fish meal – fish fat; Tourism; Construction design and financial investment, labor export and especially green new energies.

Sao Mai Solar Contacts
Media Relations:

Cautionary Note TotalEnergies

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

Cautionary Note ENEOS Corporation

The terms “ENEOS”, “ENEOS Group” in this document are used to designate ENEOS Corporation and the consolidated entities that are directly or indirectly controlled by ENEOS Corporation. This document contains certain forward-looking statements. Actual results may differ materially from those reflected in any forward-looking statement due to various factors, which include, but are not limited to, the following: (1) macroeconomic conditions and changes in the competitive environment in the energy, resources, and materials industries; (2) the impact of COVID-19 on economic activity; (3) changes in laws and regulations; and (4) risks related to litigation and other legal proceedings.