Press Releases

December 20, 2019

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

Reinforcing organization to handle everything from engineering, procurement to construction

At the signing ceremony

From left: NSN President Thach Hoang Ngoc, and SESJ President Hiroshi Sasaoka,
and SHARP NSN ENERGY SOLUTION JSC President Hoang Thanh Hai


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 name

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

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