SkyX Solar announced that it signed a joint venture agreement with SAIGONTEL to build and operate rooftop solar projects for industrial facilities within the industrial parks affiliated with the latter in Vietnam. SkyX, a solar rooftop developer focused on the commercial and industrial segments, said that it would hold the majority stake in this joint venture and will be responsible for the development of the projects. In a press statement issued by SkyX, it said that the joint venture would initially develop and operate 50 MW of rooftop projects at ten industrial parks initially. SkyX added that six of these individual parks are in the central and south regions of the country, which have the irradiation levels. The joint venture will offer end-to-end renewable energy solutions to creditworthy client partners, which entails zero CAPEX and OPEX from them but, at the same time, will bring cost savings and carbon footprint reduction benefits. The rooftop solar power market in Vietnam is witnessing significant demand as leading companies increasingly focus on sustainability and managing rising electricity prices. The company's press statement added that it is expected that more than 4,000 MW of rooftop solar power will be developed in the next five to seven years in the country.