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Energy

France's Total to build solar panels in renewable-hungry Vietnam

Deal to generate 51 GWh of electricity a year as companies seek alternative energy

TotalEnergies, like many of its peers, is speeding up its shift into renewables as the future for fossil fuels looks increasingly bleak. (Source photo by Reuters) 

HO CHI MINH CITY -- French oil company Total will provide solar power to industrial property developer KCN Vietnam as both the manufacturing and fossil fuel sectors face pressure to transition to clean energy.

The deal will put 280,000 square meters of solar panels on factory and warehouse roofs, pumping out 51 gigawatt-hours of electricity a year, KCN said in a Tuesday news release that did not give a price for the deal. The move comes as oil and gas companies brace for a future when their businesses are supposed to be obsolete, from petroleum giant Eneos planning to buy Japan Renewable Energy to BP setting up a wind joint venture in the U.S.

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