On November 14th, INGINE Inc. joined hands with SK Innovation, a leading energy company in Korea, as well as with Doosan Heavy Industries & Construction, another leading Korean company with expertise in environmentally friendly desalination plants. These Korean parties signed a Memorandum of Understanding this Thursday with VinGroup, one of Vietnam’s largest conglomerates, as well as with the government of Quảng Ngãi Province, in order to create and spread eco-friendly values in Vietnam.
The 5-party MoU was signed at the headquarters of the Vietnamese provincial government in Quảng Ngãi. The official ceremony was attended by several officials and the main topic of discussion was the development of solutions to Vietnam’s environment problems.
Through this MoU, Korean and Vietnamese companies plan to supply various eco-friendly technologies to An Binh Island, which is under the jurisdiction of Quảng Ngãi Province, in order to turn it into a ‘Carbon Free Island’. An Binh is a small island of 69 hectares with a population of 500 people, roughly the size of the Jung District in Seoul. Due to isolation from the mainland, An Binh inhabitants had difficulties with their water supply being from rainwater alone. However, in 2012, Doosan Heavy Industries & Construction donated a desalination facility through CSR to improve residents’ quality of life. Under the recent MoU, INGINE will participate to this cause as a technology supplier in order to reduce demand for diesel power, the island’s main power source up to now, and replace it with sustainable and renewable wave energy.
As INGINE’s technology is appropriate and competitive for the supply of electricity to small islands, and with the support of its MoU partners, the company will install a 50 to 100kW wave power plant on An Binh island by 2020, in order to support the island’s power supply and struggle against environmental issues. Beyond the island, INGINE encourages the vision of wave power as the third renewable energy solution (following wind and solar power) for Vietnam, thanks to the country’s 3,400km long coastline and wave potential.
Jee Dongseob, head of Design-Build-Lease (DBL) projects at SK Innovation, has declared: “We will do our best to create an eco-friendly industrial ecosystem across Quảng Ngãi beyond An Binh Island, and to play a central role in Vietnam’s transformation into an eco-friendly technology country”.