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.
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Known as “the Oscars of the power industry”, the Asian Power Awards is one of the most prestigious awards in 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, industries are shifting their 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 the fields, including thermal power, gas power, biomass power, solar power, wind power, hydroelectricity, pumped-storage hydropower…
Rooftop solar project with a capacity of 1,45 MWp of Lac Long Company (Can Giuoc, Long An), is installed and maintained by Vu Phong Energy Group. This project has won The Asian Power Awards 2021 in two categories: Solar Power Project of the Year and Environmental Upgrade of the Year.
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 using the PPA (Power Purchase Agreement), which is the pioneered model in Vietnam. The company takes advantage of the idle roof of the factory, the investment funds ecoligo is in charge of the financing and Vu Phong Energy Group is responsible for installing and operating the solar power system.
With the PPA model, the manufacturing firm will lease the system or purchase back the clean power produced by the system at a lower price than the current electricity price. When the contract expires, the company will be free to transfer 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. It allows the 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 priorities and make use of most of their capital to invest in technology, expand production scale, or concentrate on research and development (R&D). With the 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 was implemented on the roofs of three factories. As a result, Vu Phong 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 of Vu Phong Energy Group collect system data on the IoT platform daily using SMA monitoring and management software following a precise timeframe, as well as can detect and isolate the problem, pinpoint the source of the decline in the amount of electricity produced, locate the issue as quickly as possible and solve it immediately.
With optimized communication, monitor 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 and save 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 – Vu Phong Energy Group and partners offering high-quality materials such as Proinso. Specifically, Proinso is the partner of Vu Phong Energy Group to jointly win the Lac Long Project at The Asian Power Awards 2021. The success of the project and this award will motivate Vu Phong to continue working with customers and partners to build clean energy projects, contribute to reducing greenhouse gas emissions, develop sustainably, and protect the ecosystem’s preservation.
* 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