VIEXIM Partners for Rooftop Solar Power System in Vietnam

Rooftop solar power development is gaining momentum across Vietnam, driven by a growing commitment to sustainable practices. As businesses navigate rising energy costs and increasing environmental responsibility, finding cost-effective and eco-friendly power solutions becomes paramount. Recently, Export Import Development Investment Company Limited (VIEXIM), a key subsidiary of Hanoi Plastics JSC, took a significant step in this direction, partnering with VP Energy and Vu Phong Energy Group to implement a 996 kW solar power system. This collaboration signals An Phat Holdings’ broader dedication to a greener future and showcases a practical path for other companies seeking to embrace renewable energy.

Recently, Export Import Development Investment Company Limited (VIEXIM), a subsidiary of Hanoi Plastics JSC, demonstrated a commitment to sustainability by partnering with VP Energy and Vu Phong Energy Group. This collaboration aims to develop a rooftop solar power system at their factory in Yen My district, Hung Yen province. This initiative underscores VIEXIM’s role as the newest participant in An Phat Holdings’ growing ecosystem focused on clean energy solutions. The project aligns with the broader movement towards sustainable development and contributes to reducing carbon emissions.

• Solar power system at Kem Nghia factory.
• The energy transition trend in Vietnam.
• Notice of change of Ho Chi Minh City representative office location.

Harnessing Solar Power: The Collaborative Endeavor

A partnership between VIEXIM, VP Energy, and Vu Phong Energy Group is underway to develop a 996 kW solar power system on the rooftop of VIEXIM’s factory in Yen My district, Hung Yen province. This project utilizes a Power Purchase Agreement (PPA) model, a common approach to expanding access to renewable energy. Under the agreement, VP Energy will finance the system, while Vu Phong Energy Group will manage the Engineering, Procurement, and Construction (EPC) alongside ongoing operation and maintenance (O&M). VIEXIM will then purchase the electricity generated, benefiting from significantly reduced energy costs. The arrangement offers a potential long-term advantage for VIEXIM, with the possibility of receiving a system transfer at the project’s conclusion, potentially with a capacity guarantee of 80-90% based on performance conditions.

Green Transition: Benefits and Impact

This partnership allows VIEXIM to leverage solar power solutions at a competitive price, significantly advancing their renewable energy goals and actively reducing carbon emissions associated with electricity consumption. The investment’s operational efficiency eliminates concerns about system costs. The newly installed 996 kWp system is projected to generate approximately 1,000 MWh of electricity annually, directly supporting production activities and preventing over 700 tons of CO2 emissions each year. This initiative underscores VIEXIM’s dedication to embracing clean energy solutions for a more sustainable future.

Scene of the cooperation signing ceremony

VIEXIM plays a vital role in supporting Hanoi Plastics Joint Stock Company, a key manufacturer of high-tech plastic components for prominent brands including LG, Panasonic, and Honda, and a significant exporter to Japan and Italy. VIEXIM’s expansive 23,000 m2 facility houses a synchronized workshop system and a modern production line equipped with 60 injection molding machines (ranging from 75 to 900 tons), alongside state-of-the-art auxiliary equipment. Once operational, the rooftop solar power system will contribute significantly to the factory’s overall electricity needs, furthering its commitment to sustainable practices.

An Phat Holdings’ Vision: Towards Green Living

An Phat Holdings is actively embracing sustainability through a green transformation strategy, aligning with the growing global trend of green living. As a key part of this initiative, VIEXIM collaborates to develop and implement renewable energy solutions within the group’s operations. This commitment is evident in the company’s shift towards environmentally friendly products, beginning with the introduction of the biodegradable plastic AnEco in 2018. Further demonstrating this dedication, An Phat Holdings is currently constructing a PBAT biodegradable plastic factory in Hai Phong, a USD 120 million project with a capacity of 30,000 tons per year, slated to begin operations in 2024.

Collaboration to develop a solar power system on the rooftop of VIEXIM’s factory

Beyond VIEXIM, VP Energy and Vu Phong Energy Group are partnering with another An Phat Holdings member, An Tien Industries, to integrate renewable energy into their manufacturing processes. A planned rooftop solar power system with a capacity of 2.56 MWp will generate over 3,200 MWh of electricity annually, significantly reducing carbon emissions by more than 2,300 tons of CO2 per year. This move reflects a broader industry shift towards cleaner energy sources and demonstrates An Phat Holdings’ commitment to reducing its environmental impact through investments in solar power and other renewables.

According to Nguyen Quang Tri, CEO of Vu Phong Energy Group, the global transition to green energy is driving companies to adopt ambitious targets and plans to increase their reliance on renewable energy resources, with many aiming for 100% renewable energy across their operations. Initiatives like RE100, spearheaded by The Climate Group and CDP, demonstrate this growing trend, with over 400 companies spanning diverse sectors – including technology, automotive, consumer goods, food, and chemicals – committing to this transition.

Embracing Renewable Energy: A Global Trend

In Vietnam, Vu Phong Energy Group is collaborating with numerous businesses to increase the proportion of renewable energy used in production. They offer comprehensive solar solutions, including a Power Purchase Agreement (PPA) model, and provide support through their subsidiary, VP Carbon Solutions, utilizing Renewable Energy Certificates (RECs) to help companies meet clean energy commitments, reduce Scope 2 indirect emissions, and transition to 100% renewable energy. This integrated approach makes adopting solar power a viable and increasingly popular option.

Businesses seeking clean energy solutions can contact Vu Phong Energy Group’s Call Center at +1800 7171 or +84 9 1800 7171, or email hello@vuphong.com for more information.

Vu Phong Energy Group

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