Daewoo Engineering signs MOU with Vietnam’s TTA for Renewable Energy Business

Daewoo Engineering, as part of a Korea-Vietnam economic delegation, signed a comprehensive cooperation MOU on renewable energy with Vietnamese construction development investment company Truong Thanh Development and Construction Investment Joint Stock Company, in Hanoi, Vietnam on June 23.

The agreement was signed by Han Seung, head of Daewoo Engineering’s overseas business division, and Nguyen Thi Ngoc, chairperson of TTA, and the ceremony was attended by Jeong Won-ju, chairman of Daewoo Engineering, Lee Chang-yang, minister of trade, industry and energy, and Nguyen Chi Chung, Vietnam’s minister of planning and investment.

TTA is a Vietnamese company specializing in investing and constructing renewable energy projects such as hydroelectric, solar, and wind power, and owns a total of five commercial power plants, including the 48 MW Ngoi Hut hydroelectric power plant and the 62 MWp Bau Ngu solar power plant.

Daewoo Engineering plans to diversify its orders in the hub market of Vietnam by combining the local construction business expertise gained from the ongoing Hanoi new city development project with the construction experience in the renewable energy fields of solar and wind power obtained domestically.

Source: BusinessKorea