The Asian Power Awards 2021 has honored 54 Asian power companies for their outstanding projects and pioneering initiatives in the power industry. Vu Phong Energy Group, in particular, is the only representative of Vietnam to earn this prestigious award. This achievement underscores how Vietnamese companies win renewable energy awards through innovative projects and dedicated work.
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Known as “the Oscars of the power industry”, the Asian Power Awards is one of the most prestigious awards in the energy industry. This is an annual award, and 2021 is the 17th year to recognize once again ground-breaking projects and trailblazing initiatives in the power sector.
With the increasingly serious impact of climate change, the energy industry’s structure is shifting toward clean energy – renewable energy, as industries focus on developing a more sustainable business model. This shift has resulted in innovative solutions in the energy sector. The Asian Power Awards 2021 has awarded 54 power companies for outstanding projects in various fields, including thermal power, gas power, biomass power, solar power, wind power, hydroelectricity, and pumped-storage hydropower, reflecting the growing trend towards sustainable energy solutions for businesses in Vietnam and across Asia.
The rooftop solar project with a capacity of 1.45 MWp of Lac Long Company (Can Giuoc, Long An), which was installed and maintained by Vu Phong Energy Group, has won The Asian Power Awards 2021 in two categories: Solar Power Project of the Year and Environmental Upgrade of the Year. This recognition highlights the significant achievements of the Lac Long Solar Project and contributes to the growing list of Vu Phong Energy Group Awards.
The rooftop solar system with a capacity of 1.45 MWp of Lac Long Company (Can Giuoc, Long An)
Lac Long is an outstanding project utilizing the PPA (Power Purchase Agreement), a pioneered model in Vietnam. The company leverages the idle roof of its factory, with investment funds from ecoligo covering the financing, and Vu Phong Energy Group responsible for installing and operating the solar power system. This exemplifies a successful Rooftop Solar PPA Vietnam initiative.
With the PPA model, the manufacturing firm leases the system or purchases back the clean power produced by the system at a lower price than the current electricity price. When the contract expires, the company gains ownership of the complete system, with a committed capacity of more than 80-90 percent (depending on conditions). This is a win-win model for all parties involved, including businesses, investment funds, and EPC contractors, highlighting the benefits of the PPA model for solar energy in Vietnam. It allows companies to promote “green” production while using clean power at low pricing and without upfront investment capital. The model is especially suited for businesses looking to prioritize and make use of most of their capital to invest in technology, expand production scale, or concentrate on research and development (R&D). With self-production and self-consumption, this model’s development does not put any added pressure on the transmission and distribution electricity grid and still helps Vietnam to achieve its renewable energy development and GHG emissions reduction goals.
The system uses 2,936 high-efficiency solar panels and 17 SMA 75KW grid-tie inverters
The Lac Long project was divided into two stages and implemented on the roofs of three factories. As a result, Vu Phong Energy Group chose the SMA Sunny High Power PEAK1 75kW (SHP 75-10) inverter system to provide high efficiency, steady operation, and increased flexibility appropriate for the actual installation conditions. Even though there are up to 17 sets of inverters, the investor and operator, Vu Phong Energy Group, collect system data on the IoT platform daily using SMA monitoring and management software following a precise timeframe. This allows them to detect and isolate problems, pinpoint the source of any decline in electricity production, locate the issue as quickly as possible, and solve it immediately. Such operational excellence demonstrates Vu Phong Energy Group EPC contractor achievements.
With optimized communication, monitoring, and control of the PV systems, EnnexOS technology efficiently assists both Vu Phong Energy Group and the investor. System management becomes easier and helps to maximize profits from solar power, saving time and human resources. Lac Long can monitor the efficiency of the PV system in real-time each week, month, etc., to create the best production plan and optimize the capacity of this clean energy source.
The Lac Long project is the outcome of multi-party collaboration, including investment fund ecoligo – Lac Long Company – Vu Phong Energy Group, and partners offering high-quality materials such as Proinso. Specifically, Proinso is a key partner of Vu Phong Energy Group that jointly contributed to the success of the Lac Long Project at The Asian Power Awards 2021. The success of the project and this award will motivate Vu Phong Energy Group to continue working with customers and partners to build more clean energy projects, contributing to reducing greenhouse gas emissions, developing sustainably, and protecting the ecosystem’s preservation. This solidifies their commitment to providing sustainable energy solutions for businesses in Vietnam.
* Announcement of projects winning The Asian Power Awards 2021: https://asian-power.com/co-written-partner/event-news-news/innovative-power-projects-and-initiatives-recognised-asian-power-awards
Vũ Phong Energy Group
