SHARP Establishes SHARP NSN ENERGY SOLUTION JSC in Vietnam for the Construction of Solar Power Plants

CHANGCHUN,
China, December. 23, 2019 /PVTIME/ -- On December 20,
2019, SHARP ENERGY SOLUTIONS CORPORATION (SESJ)*1 signed
an agreement with Vietnamese company NSN CONSTRUCTION AND ENGINEERING JSC
(hereinafter “NSN”) on establishing a joint venture company for the
construction of solar power plants. In March 2020, SESJ will acquire 60% of the
shares outstanding of NSN ENERGY SOLUTION JSC, a renewable energy-related
construction company that NSN and others established in March 2019. The newly
acquired company will change its name to SHARP NSN ENERGY SOLUTION JSC.

In recent years, Vietnam is experiencing
rapidly expanding use of renewable energy sources. The establishment of SHARP
NSN ENERGY SOLUTION JSC will allow SHARP to reinforce its organization for
handling all aspects of solar power plant construction—starting from
engineering, procurement to construction—and provide solutions according to
customers’ needs and expand SHARP’s EPC*2 business in
Vietnam.

SHARP NSN ENERGY SOLUTION JSC will also enable
SHARP to strengthen its capability to offer rooftop solar systems, for which
demand is expected to grow for buildings such as factories and commercial
facilities. This way, SHARP will contribute to the further widespread use of
renewable energy.

*1 SESJ is a subsidiary of SHARP CORPORATION that specialises in energy solutions such as the sale of PV systems and the installation of electrical equipment. Headquarters: Yao, Osaka Prefecture; President: Hiroshi Sasaoka

*2 Engineering, procurement, and construction (EPC) of solar power plants.

Overview of New Joint Venture Company

Company name SHARP NSN ENERGY SOLUTION JSC
Company location Hanoi, Socialist Republic of Vietnam
Representative Hoang Thanh Hai
Shareholders SHARP ENERGY SOLUTIONS CORPORATION: 60% NSN CONSTRUCTION AND ENGINEERING JSC: 38% GISOKO JSC*3: 2%
Date of agreement December 20, 2019
Share acquisition date March 2020 (plan)
Number of employees 8 (to gradually increase)
Business Design, procurement, and construction of solar power plants

*3 An affiliate of NSN. Headquarters:
Hanoi, Vietnam; Representative: Nguyen Van Phong

Overview of NSN

Company na me NSN CONSTRUCTION AND ENGINEERING JSC
Company location Hanoi, Socialist Republic of Vietnam
Bases Ho Chi Minh City, Vietnam; Cambodia; Myanmar
Representative Thach Hoang Ngoc
Date of establishment December 10, 2003
Number of employees 290
Business Electrical and mechanical utility work, construction and civil engineering, engineering consultancy, others

SOURCE: Sharp

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