Vu Phong Energy Group is collaborating with Hwaseung Enterprise Group (Korea) and Shire Oak International Group (United Kingdom) on a significant rooftop solar project in Vietnam, focused on creating a series of rooftop solar systems for factories Vietnam with a total capacity of more than 12.5 MWp. These will be the first rooftop solar power systems built in Hwaseung Enterprise’s plants in Vietnam. The system chain has a total installed capacity of over 12.5 MWp, generating clean energy Vietnam for factory production activities. Hwaseung Enterprise can eliminate up to 20% of total greenhouse gas emissions with solar at these plants by using clean energy in production processes, according to calculations.
Hwaseung Enterprise , based in Korea with operations spanning Vietnam, Indonesia, and China, stands as the world’s largest manufacturer of footwear, clothes, apparel, and textiles, serving as a primary supplier to numerous renowned global brands. Committed to corporate sustainability, Hwaseung Enterprise has pioneered its involvement with the UNFCCC Fashion Industry Charter, signing the “Fashion Industry Charter on Climate Action” commitment and setting an ambitious target to reduce carbon emissions by 50 percent by 2030. This collaboration for the development of rooftop solar project systems at factories in Vietnam marks a crucial stride in Hwaseung Enterprise’s efforts to achieve this goal, initiating a broader plan to install larger rooftop solar project systems across all its existing global facilities in the near future, significantly contributing to carbon footprint reduction.
Representatives of Hwaseung Enterprise and Shire Oak International at the signing ceremony of electricity purchase and sale from rooftop solar systems
Shire Oak International Group will provide investment and construction for the chain of renewable energy projects within Hwaseung Enterprise plants, while Vu Phong Energy Group will serve as the general contractor, offering comprehensive EPC services. Established in 2002, Shire Oak International is dedicated to being a global leader in fostering and deploying renewable energy solutions to accelerate the energy transition in developing nations. With a track record of approximately 3,600 MWp of solar power plants across the Middle East, Southeast Asia, South Africa, and Latin America, Shire Oak International secured a USD 120 million investment in 2021 to develop rooftop solar power plants with a capacity of 200 MWp. Their projected growth portfolio in Southeast Asia, especially in Indonesia and clean energy Vietnam, is set to expand to 500 MWp over the next two years, contributing significantly to sustainable energy development.
Vu Phong Energy Group has a proven history of collaboration with Shire Oak International on various large-scale projects across Tien Giang, Ben Tre, Dong Nai, Ba Ria – Vung Tau, and other locations. This ongoing partnership aims to foster sustainable energy development in Vietnam, with the current endeavor being a significant series of rooftop solar project systems for Hwaseung Enterprise’s facilities.
Shire Oak International invests in and Vu Phong Energy Group installed a rooftop solar energy system based on the PPA model.
“As a pioneer in developing clean energy Vietnam and consistently upholding the sustainable values outlined by the United Nations’ Sustainable Development Goals (SDGs), Vu Phong Energy Group is honored when major corporations like Hwaseung Enterprise and Shire Oak International invest in fostering clean energy Vietnam development,” stated Mr. Pham Nam Phong, Chairman of the Board of Directors of Vu Phong Energy Group. “Furthermore, rooftop solar power systems, being self-produced and self-consumed, alleviate grid pressure while significantly advancing the energy transition and reducing greenhouse gas emissions. Consequently, Vu Phong Energy Group is proud to contribute to this initiative, committed to delivering high-quality projects, ensuring optimal benefits for clients and partners, and supporting the national objective of achieving carbon-neutrality by 2050, as pledged by the Prime Minister at COP26. This exemplifies our dedication to sustainable energy development.”
Mr. Pham Nam Phong – Chairman of the Board of Directors of Vu Phong Energy Group – at the Kick-off ceremony of the project, April 1st, 2022
Consequently, this PPA solar power model for enterprises (Power Purchase Agreement) will be applied to the chain of rooftop solar project systems on Hwaseung Enterprise’s factories. This model is gaining significant interest from investment funds and businesses, especially those committed to “going green” and achieving substantial carbon footprint reduction throughout their manufacturing processes. Vu Phong Energy Group has been a pioneer in developing the PPA (Power Purchase Agreement) model of solar power in Vietnam since late 2019/early 2020, facilitating investment funds and manufacturing firms in their endeavors to develop solar power, resulting in the establishment of hundreds of rooftop solar power plants under this strategy.
This collaboration, accompanying two significant Korean ( Hwaseung Enterprise) and British ( Shire Oak International ) corporations in developing a clean energy Vietnam system chain, unequivocally demonstrates Vu Phong Energy Group’s steadfast commitment to achieving the United Nations’ Sustainable Development Goals. Most notably, this project aligns with Goal 7 (Affordable and Clean Energy), Goal 8 (Decent Work and economic growth), Goal 13 (Climate action), and Goal 17 (Partnerships for the Goals), underpinning a holistic approach to sustainable energy development.
Vu Phong Energy Group
