EGP Vietnam - a new company is born
- Aug 9, 2022 4:22 pm GMT
We say welcome in the local language to our new EGP country:
Please describe how EGP Vietnam is structured, in terms of its team, functions, and general purpose.
EGP Vietnam (EGPVN) was officially established in
What are the main business objectives and targets for EGP Vietnam, for this initial period? Could you give an example of the activities that have already been - or will be - put in place (in terms of plant, training, recruitment, and relations with local communities)?
In our current business plan, we have a target of commissioning our first utility-scale renewable energy power plant by 2024. To reach this goal, we already have 5692 MW of projects in our pipeline, out of which 915 MW are at an advanced stage. We have also set a target of increasing this advanced-stage pipeline to 1600MW by the end of the year.
As most of our employees are new hires who joined the Enel family less than a year ago, we have been focusing our efforts on the onboarding of our new team members. In addition to the new onboarding program, which was prepared at the regional level and followed by all employees, each of the functions has conducted its training and induction programs. In particular, visits by colleagues from EGP Korea (Procurement and E&C), which was also established recently, meant that common experiences and knowledge could be shared directly and effectively.
As you can imagine, setting up the organization and recruiting/onboarding our first employees was quite challenging during the pandemic. However, now that the restrictions have been lifted, visits by colleagues and the ability to go to the office to meet with colleagues and counterparts have greatly improved the pace of induction and collaboration.
While recruitment continues for a few more positions, we will maintain this core team of professionals to bring our project to investment, after which we will look at the enlargement of the team to cope with the increasing operational needs.
As for relations with local communities, we are working through our local development partners to engage with stakeholders (government, community, and suppliers) to develop our greenfield project pipeline. We are also working with our Sustainability team to explore ways to employ our Creating Shared Value (CSV) approach in the development of our projects.
We are excited to have in our team professionals who have been part of this recent growth.
Could you offer us a quick overview of the energy scenario in
We believe that
Can you give us a recent example of success?
We recently signed an agreement to secure our first project (solar PV, 160 MW) which we expect to be investment-ready over the next 6 to 12 months. This required extensive negotiations with a local partner and due diligence for both commercial and technical issues. This involved the entire team (BD, E&C, Procurement, Legal) to ensure the project's viability and for our local partner to have the confidence that we can provide value to such a near-term opportunity.
Securing this project will give visibility in implementing our first renewable energy project in
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